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Angolan Crude Buying Picks Up for July: Bloomberg

OIL

Angola's July cargoes are selling faster than those for June, with 64% of July supply already traded, Bloomberg said.

  • Just 13 of 36 July cargoes are still without a buyer, compared to 20 cargoes remaining over the same during the previous month.
  • Most buyers are from Asia, while some barrels have also gone to Brazil.
  • A softer Brent-Dubai spread, coupled with lower freight rates have improved the economics for Angolan crudes, Bloomberg said.
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