LONDON, Feb 19 (Reuters) - Angolan differentials were
expected to remain relatively strong on Tuesday as lower supply
in April from a slightly smaller loading programme was seen
supporting prices, traders said.
Angola was expected to export around 1.73 million barrels
per day of crude in April, a provisional loading programme
showed on Monday, down slightly from March.
The March programmme sold relatively quickly, with all
cargoes sold around a week before the April programme emerged.
One trader said that he expected initial offers to be at
around the same level at which they started after the March
programme was announced.
However offers had not emerged on Tuesday, with many traders
away from their desks for IP Week in London, and traders said
there may be a slightly slower start to sales for April cargoes
than for March, which sold relatively quickly.
Around three to four Nigerian cargoes of the 67 available
for March loading were still seen available, but buyers said
they were waiting for offers to drop further before picking up
the remaining overhang.
* Qua Iboe: All cargoes sold for March. Cargoes
sold for around $2.40 to $2.60 over dated Brent, but traders
said it was now assessed slightly lower at around $2.40 over
* Differentials for Qua are seen supported by a force
majeure on Exxon's output, which was announced on Feb. 7.
* Forcados, Bonny and Bonga cargoes were said to be
available, but the bulk of the 67 cargoes in total had been
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(Reporting by Simon Falush; Editing by Anthony Barker)
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