W. Africa Crude-IOC issues new tender, Angolan programme awaited


LONDON, March 17 – There was little spot or tender activity on Friday as traders waiting for May loading programmes faced a sizeable overhang from the previous month due to slowing demand on weakening diesel margins.

* About 30 April loading Nigerian cargoes were still available.

* Around 10 Angolan cargoes also remain from the April programme. The May programme is expected to emerge on Monday.

* India’s IOC issued a fresh tender for crude loading May 7-16. The tender closes on March 20. IOC awarded its last tender for May 1-10 loading to Total but grade details could not be confirmed. It recently took Olombendo

* The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday.

Reporting by Julia Payne Editing by Kirsten Donovan

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