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Nigerian September crude programmes emerge

September preliminary export programmes emerged for several grades of Nigerian crude, including Qua Iboe.

Nigeria’s Qua Iboe crude oil stream will export six cargoes in September plus two deferred from the previous month, down from the 9 cargoes originally planned for August.

Programmes for other main grades were expected imminently. Between 25-35 cargoes remained for August loading. Price offerings for top grades Qua Iboe and Bonny Light were heard to stand between $2-$2.50 above dated Brent.

Nigerian light sweet varieties are especially hard hit amid reduced demand as the summer driving season winds down and similar U.S. grades remain abundant.

Source: Reuters