Nigeria oil exports to dip in February

Nigeria oil exports to dip in February

2014-12-23 16:48

London - Nigerian crude oil exports in February are set to fall to around 1.87 million barrels per day (bpd) from around 2.03 million bpd in January, shipping lists showed on Tuesday.

Export levels for February are expected to be lower due to less of the benchmark Qua Iboe grade, traders said, citing expected maintenance.

However exports levels were still higher than for much of 2014, as there was relatively strong production of other grades such as Brass River and Bonga.

Traders said the programme was not small enough to provide much support to differentials which remained around five-year lows.