West Africa crude differentials hold steady
West African crude differentials were stable on Tuesday, while medium grades are facing competition from Middle East supplies in Asia, according to analysts.
"Heavier Arab Gulf crudes are landing comparatively attractively into the Far East, especially when compared to medium-density barrels out of West Africa, Europe, or the Americas," Sparta Commodities analyst Philip Jones-Lux said.
Around 50 per cent of Nigerian and Angolan crude and condensate exports have been shipped to Asia in 2025 to date, according to data from global shipping analytics firm Kpler, making it the leading importing continent.
West African crude trade saw a sluggish start to the week after a Chinese public holiday on Monday.
At the start of this week, around 11 Angolan cargoes from the July loading programme remain available, a trader said.
Indian Oil Corp picked up a cargo of Nigerian Agbami crude in a tender on Monday, a trader said.
Nigeria is seeing a significant shift in its oil and gas landscape as local companies expand their roles, driving a new phase of potential sectoral growth and innovation.
(Reporting by Robert Harvey Editing by Mark Potter)