Asia to Boost West African Crude Imports on Cheaper Brent
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Asian refineries will boost their imports of West African crude oil for loading in February to the highest in at least seven months amid cheaper Atlantic Basin grades and rising demand in China.
Shipments totaling 62.4 million barrels, or 2.15 million barrels a day, will be exported from Angola, Nigeria, the Republic of Congo, the Democratic Republic of Congo, Equatorial Guinea and Gabon, according to a survey of six traders and an analysis of loading programs obtained by Bloomberg News. That’s 18 percent more than the revised 1.83 million barrels a day scheduled for this month.