International crude oil market sales update: How Angola crude outsold Nigeria’s

Reports emerging from international crude oil market sales say Angolan oil is getting all sold out when compared to that of Nigeria.
According to statistics, Angola cargoes were largely sold out for February loading, while ample supply of light crude, sweet crude, and uncertainty of loading dates are negatively affecting Nigerian crudes.

According to CLOV and Girassol traders, just two cargoes of Angolan February loading crude were still available as on Friday.
Angolan state oil firm, Sonangol, was also sold out, having sold a cargo of Girassol loading on Feb. 19-20 and a cargo of Palanca. The Girassol was offered at dated Brent minus 10 cents.

However, for Nigerian crude, a large number of unsold February-loading cargoes are still left without buyers.

According to one trader, “the number of available cargoes is in the high 20s, down from an estimate of about 30 on Wednesday”.
Nigeria’s highest grade, Qua Iboe, was last sold at dated Brent plus 75 cents.

According to sources, the deals being presented to buyers now are lower than Brent plus 75 cents which it was last sold for.