U.S. East Coast Looks to Nigerian Liftings
Price benchmarks on which West African oil are based fell by more than 1 percent amid concerns over rising oil rig counts in the United States, which last week reached their highest since October 2015.
* Drillers added eight rigs in the week to Feb. 10, bringing the total to 591, the most since October 2015, energy services firm Baker Hughes Inc said on Friday.
* Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January, helping boost compliance with the group's supply-reduction deal to a record high of more than 90 percent, according to data in a monthly report released on Monday.
Nigeria
* Nigeria's oil production climbed to 1.576 million bpd in January, roughly 102,000 bpd higher than December, according to secondary sources in a monthly OPEC report released on Monday.
* Buyers on the U.S. East Coast and in those in South America had shown interest in Nigerian grades, sources said, with both Philadelphia Energy Solutions and Philips66 in the market to buy.
* Repsol provisionally booked the Cascade Spirit to carry Amenam Blend to Peru, while Statoil (STO) put the SCF Baikal on subjects to bring Agbami to the U.S. Atlantic Coast.
* Traders said refiners were also interested in Qua Iboe and other grades.
* There were still some loading delays on Brass River crude, traders said, though ENI lifted force majeure in late January. Only Forcados remained under force majeure.
* Still, around 20 million barrels of March-loading oil had yet to sell, with April programmes due towards the end of the week.
* Nigeria's oil production climbed to 1.576 million bpd in January, roughly 102,000 bpd higher than December, according to secondary sources in a monthly OPEC report released on Monday.
* Buyers on the U.S. East Coast and in those in South America had shown interest in Nigerian grades, sources said, with both Philadelphia Energy Solutions and Philips66 in the market to buy.
* Repsol provisionally booked the Cascade Spirit to carry Amenam Blend to Peru, while Statoil (STO) put the SCF Baikal on subjects to bring Agbami to the U.S. Atlantic Coast.
* Traders said refiners were also interested in Qua Iboe and other grades.
* There were still some loading delays on Brass River crude, traders said, though ENI lifted force majeure in late January. Only Forcados remained under force majeure.
* Still, around 20 million barrels of March-loading oil had yet to sell, with April programmes due towards the end of the week.
Angola
* Angola's January oil production fell by 23,000 bpd to 1.651 million bpd, according to secondary sources in OPEC's report.
* The country's April loading programme was due by the middle of the week. The March plan sold out quickly on the back of firm demand in Asia.
* Traders said still-strong refinery margins and a favourable spread between Brent and Dubai crudes would keep the oil attractive to Asian buyers.
* Angola's January oil production fell by 23,000 bpd to 1.651 million bpd, according to secondary sources in OPEC's report.
* The country's April loading programme was due by the middle of the week. The March plan sold out quickly on the back of firm demand in Asia.
* Traders said still-strong refinery margins and a favourable spread between Brent and Dubai crudes would keep the oil attractive to Asian buyers.
Tenders
* India's IOC issued a new tender to buy West Africa crude for loading between April 20 and 30.
* Last week, it purchased a total of 4 million barrels, including Nigeria's EA, Okwuibome Akpo and Angola's CLOV.
* India's IOC issued a new tender to buy West Africa crude for loading between April 20 and 30.
* Last week, it purchased a total of 4 million barrels, including Nigeria's EA, Okwuibome Akpo and Angola's CLOV.
(Reporting by Libby George; Editing by David Holmes)
