Sonangol sells last spot crude cargo

Some spot action resumed with a European buyer picking up the slack left by Chinese refineries as glum news about a rise in coronavirus cases weighed.

China’s Unipec were still seeking buyers for a handful of Angolan cargoes for March export as new programmes were set to
emerge early next week.

Angola’s Sonangol was said to have sold its last spot cargo to a European refiner.  State-run ChemChina has joined Chinese refining peers in slashing output as the coronavirus epidemic cuts fuel demand, three people with knowledge of the matter said on Thursday, lowering production by around 100,000 barrels per day (bpd).

 

Source: Reuters

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