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WAF Exports to Asia Set to Hit 9-month Low

OIL

November loadings of crude from West Africa, bound for destinations in Asia, are set to be at their lowest level since February, according to Bloomberg.

  • Around 1.33m b/d of crude across 43 cargoes is set for loading from WAF in November, compared to 1.39m b/d in October.
  • Flows to Asia have shrunk as Europe draws more of the diesel-rich volumes, while the Brent-Dubai spread flipping to a narrow discount has closed the arbitrage East.
  • Shipments to China are forecast at 832k b/d in November, down from 859k b/d in October.
  • However, flows to India are up around 39% on the month to 258k b/d in November.
Energy BulletsCommodities
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