Asia to Cut West Africa Oil Imports to Five-Month Low in May
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Asian refiners will reduce daily imports of West African crude in May by 3.6 percent to the lowest in five months, a survey of five traders and an analysis of loading programs obtained by Bloomberg News showed.
A total of 59 cargoes are scheduled for export from Angola, Nigeria, Republic of Congo, Equatorial Guinea, Democratic Republic of Congo and Gabon, one less than in April, according to the survey. This equals 56.1 million barrels, or 1.81 million barrels a day, the lowest since December, compared with 1.88 million this month.