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Nigerian crude programmes emerging

More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February.

Bonny Light is loading six cargoes in March, while Forcados is loading seven full cargoes and two partial shipments, traders said.

Even so, March supply of four main grades is set to be lower than in February.

Differentials have been coming down this week due to ample supply as Qua Iboe exports resume. February-loading Escravos was being offered at dated Brent plus 40 cents a barrel on Wednesday, down from plus 80 cents the previous day.

Source: Reuters