W. Africa Crude-West African differentials steady
LONDON, Nov 12 (Reuters) -Nigerian and Angolan crude oil differentials were stable on Tuesday, as West African grades remain broadly under pressure from lacklustre buying interest.
* Buying interest in the West African December trading cycle remains weak despite an increase in refinery run rates, a trade source said.
* However, a slight uptick in refinery profit margins for diesel could provide a floor to the price slide.
* Year-end destocking could also be weighing down buying interest in the December loading programme, another source added.
* Nigeria's Dangote oil refinery is targeting 550,000 barrels per day of production this year, around 85% of its capacity. The refinery can now process European-spec winter diesel, it said on Tuesday.
* On Monday, ENI sold a cargo of Angolan Nemba loading Dec. 16-17 at dated Brent minus $2.20 a barrel via the Platts window.
* Around 15 cargoes from the December Angolan loading programme remain unsold, according to trade sources. The January loading programme should surface in around a week.
* As many as 35 Nigerian cargoes remain unsold from the December schedule, a trade source said at the end of last week.
Reporting by Robert Harvey; Editing by Maju Samuel
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