Angola’s Faster February Oil Sales Signal Better Demand in Asia
The February cycle still has another week of trading left before March barrels come to the market.
Photographer: Martin Bureau/AFP/Getty ImagesThe pace of sales for February-loading Angolan oil is faster than the last couple of months, with only 20-30% of next month’s supplies still seeking buyers.
Only five-to-eight cargoes of Angolan crude for next month are still for sale out of 29 scheduled lots, according to traders specializing in West African oil, who asked not to be identified discussing private information. That’s a better selling pace than the last couple of months, they said.