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WAF Crude Exports to Asia Hit 5-Month High

OIL

WAF crude oil exports to Asia in February are set to increase to the highest level in five months, amid a resurgence in flows to India and boosted China flows, Bloomberg said.

  • 50 crude cargoes are due to load for Asia in February, equating to 1.59m b/d according to Bloomberg.
  • This compares to 44 cargoes totalling 1.28m b/d in January.
  • Shipments to China are up slightly to 1.05m b/d in February, the highest since August and up 0.05m b/d in January.
  • Shipments to India are set to be 333k b/d comprised of 10 cargoes in February, the highest since Sep. 2022.
  • Crude flows from Angola to Asia are up to 826k b/d, the highest since September and a rise of 55k b/d on the month.
  • Nigeria exports to the East in February are seen at 303k b/d, up 62k b/d on the month.

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