ReutersReuters

Offers stay high, interest in Angolan rises

Offers for West African crude showed no signs of easing on Thursday as Angolan sales stepped up for the August-loading trading cycle.

* Angolan sale prices had suffered in recent months due to COVID-19 mobility curbs in top customer China.

* Sales of heavier oil varieties by Congo and Chad had boosted the prospects of similar kinds from Angola.

* Sonangol continued to offer its August-loading cargo of Girassol, up by 50 cents from a week ago at just below dated Brent plus $7, traders said.

* The Angolan state oil firm placed its August-loading cargo of Dalia for around dated Brent plus $1 to commodities trading firm Vitol.

* Medium sweet Nigerian Escravos and Forcados continued to be offered for around dated Brent plus $9.

RELATED NEWS

* Russian Deputy Prime Minister Alexander Novak said on Thursday that attempts to limit the price of Russian oil could lead to "disbalance" in the market and push prices higher.

* OPEC+ said on Thursday it would stick to its planned oil output hikes in August but avoided discussing policy from September onwards even as prices have risen on tight global supplies and worries that the group has little ability to pump more crude.

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