W.Africa Crude - Differentials edge lower
W.Africa Crude - Differentials edge lower LONDON, July 9 (Reuters) - The West African crude market was quiet on Thursday as demand waned and crude grades competed for market share against each other.
Nigeria's Bonga for August 3 to August 4 loading was bought at dated flat in the Platts window earlier this week, traders said, while TotalEnergies offered Angolan Djeno at minus $14 to dated Brent.
Differentials have been pressured by weak appetite from China and both U.S. and Latin American grades coming in cheaper to Europe, traders have said this week.
Additionally, the partial increase in flows from the Middle East was alleviating concerns of a shortage.
In the wider market, ExxonMobil and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add 40,000 barrels per day of oil production, Nigeria's upstream regulator said on Wednesday.
(Reporting by Seher Dareen. Editing by Mark Potter)
((seher.dareen@thomsonreuters.com))