W.Africa Crude - Differentials stay under pressure

- West African crude differentials remained under pressure on Monday, moving lower on a larger supply of crude.

  • West African excess barrels have to compete with Middle Eastern grades coming to Europe, more U.S. WTI flows to Europe and volumes from strategic reserves, traders have told Reuters.

  • Additionally, Indian Oil Corporation issued a tender last week.

  • In the wider market, Nigeria pumped around 1.65 million barrels per day in June, according to a Reuters survey on output by the Organization of the Petroleum Exporting Countries. It had a quota of 1.50 million bpd.