Free Trial

WAF Crude Loadings Climb to 6-Month High in Dec

OIL

WAF crude and condensate loadings rose to their highest level in six months, amid higher flows from Nigeria, Angola, Cameroon, and the Ivory Coast, according to Bloomberg.

  • December crude exports from ten African countries in West Africa rose 295k b/d to 3.55m b/d.
  • Nigeria’s crude loading averaged 1.66m b/d, the highest since September. Angola’s exports rose by 21k b/d to 1.06m b/d.
  • The combined shipments from the remaining eight smaller oil exporters were up around 3% to 872k b/d.
  • Regarding destinations, shipments to China fell to 735k b/d, compared to 754k b/d in November. Loadings headed to India were 247k b/d, up from 228k b/d in November.
  • Flows to Europe were 989k b/d in Dec, compared to 1.37m b/d in Nov.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.