Bonga loadings delayed as Nigerian crude overhang persists

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Trade was thin on Wednesday, with traders eyeing a few tenders, while an oversupply of alternatives to Nigeria’s light, sweet grades continued to weigh, Reuters reports.

Around 10-15 June loading cargoes of Nigerian crude were left with plenty available in July. Nigeria’s July schedule is at 1.84 million barrels per day, slightly higher than the revised June programme that added Forcados.

Traders said loadings at Nigeria’s offshore Bonga platform were delayed by about 10 days. Delays for Bonny Light were around 10 days due to one pipeline being shut down.