W. Africa Crude-December cargoes linger, Indian imports rose in October
LONDON, Nov 21 (Reuters) -Nigerian and Angolan crude cargoes from the December loading schedules remain unsold, while Indian imports of West African crudes rose in October, data from trade sources showed.
* Traders viewed nine or ten outstanding cargoes on the Angolan December loading schedule in recent days.
* December's schedule was unable to clear before the release of the Angolan January schedule, which surfaced at the start of this week. A total of 35 cargoes will load in January.
* No offers of January-loading Angolan cargoes were being made yet, a trader said on Wednesday, while term allocations are finalised.
* Around 25 Nigerian December cargoes remain unsold, a trade source said on Thursday, compared with indications of around 30 unsold cargoes roughly a week ago.
* The overhang in West African December cargoes belies an uptick in middle distillate margins, and could be partially linked to year-end accounting practices impacting demand for late-November cargoes.
* India received around 90,000 barrels per day of Nigerian crude in October, up by around 44% on the month, and around 94,000 bpd of Angolan crude, up by 49% on the month.
Reporting by Robert Harvey; Editing by Krishna Chandra Elur
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