W.Africa Crude-Demand slows down, Nigerian loading programs emerge

Eni SpA

28/05/2026 17:34

    LONDON, May 28 (Reuters) - West African crude differentials were stable on Thursday on lower demand for the grades, while the market absorbed the July loading programs for Nigerian crude. 
Trades for July loadings were slow to emerge, traders said, with demand having slowed down from Asia in particular.
The West African crude market has been muted in recent sessions as traders take stock after a recent slide in differentials. 
Prices for physical crude have fallen in part due to Chinese refiners slashed refining runs and also reduced imports and instead used crude from their storage tanks. Producers, refiners and traders exported more oil and fuel from the United States to global markets to help plug the gap in supply from the Middle East.
Preliminary programmes for July loading of Nigerian crude were out, with nearly 663,000 barrels per day expected of the Forcados, Bonny Light and Bonga grades together. 

(Reporting by Seher Dareen in London; edited by Alan Barona)
((seher.dareen@thomsonreuters.com))