LONDON, May 12 – Spot activity was limited on Tuesday but the rise of Indian refining runs will likely keep prices propped up after the dismal levels seen two weeks ago.
Thank you for reading this post, don't forget to subscribe! * India’s IOC issued a new buy tender for west African crude loading June 9-18. The tender closes on May 13.
* Around 10 cargoes of June-loading Angolan crude were still available, with the July programme due to emerge at the end of the week.
* Chevron was offering June-loading Nemba at dated Brent minus 70 cents.
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* OPEC and its allies want to maintain existing oil cuts beyond June when the OPEC+ group is next due to meet to shore up prices and demand, which has been hit by the coronavirus pandemic, four OPEC+ sources said on Tuesday.