Exports of Nigeria’s Bonny Light crude oil will fall to a two-month low in January, according to loading programmes seen by trading sources on Tuesday.

Shipments of Bonny Light will fall to 214,500 barrels per day in January from 263,483 bpd in December, based on a schedule that contains seven 950,000-barrel cargoes, compared with December’s programme that contained nine cargoes.

Spot trade has been fairly slow in the Nigerian market in the past couple of weeks, due in part to a fairly large number of unsold cargoes that have prevented differentials from gaining any upward traction.

Traders estimate nearly a quarter of the December programme remains available for sale, roughly 15 cargoes, showing no change on the number estimated late last week.

Source: Reuters