Nigeria’s Qua Iboe crude exports to rise


LONDON, June 24 – Nigeria’s loading programmes for August were starting to be issued on Monday with the Qua Iboe schedule pointing to more ample supplies.

* Nigeria’s Qua Iboe crude oil stream will export 9 cargoes in August, up from 6 originally planned in July, a trade source said on Monday citing a loading schedule.

* At least 20 cargoes remain for July loading, according to traders.

* Differentials for some grades have reached multi-year highs due to stronger demand especially in Northwest Europe.

Qua Iboe for July loading was last heard to be offered at dated Brent plus $2.80 a barrel. If a cargo traded at that level, it would be the highest differential since mid-2014, according to Refinitiv Eikon data.

* Some cargoes remain for July loading, while the preliminary programme for August has added another 45 cargoes. (Reporting by Alex Lawler; Editing by Ed Osmond) ))

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