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Nigerian Forcados, Bonga Loadings to Rise in May

OIL

Nigeria is scheduled to export 276kbpd of Forcados crude in May, the highest since January and up from a revised 227kbpd in April, according to a loading program seen by Bloomberg.

  • Bonga loadings are planned to increase to 135kbpd in May, up from 105kbpd planned for April.
  • Recent offers for some Nigerian grades have dipped, as higher supply has been dampening differentials, traders told Reuters.
  • Nigerian Qua Iboe was last offered +$2.80/bbl to Dated Brent and Bonga was offered at +$4.50/bbl to Dated Brent, lower than the $3.20/bbl and $4.75bbl heard previously the traders said.

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