{"id":194250,"date":"2025-12-21T02:40:09","date_gmt":"2025-12-21T02:40:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/194250\/"},"modified":"2025-12-21T02:40:09","modified_gmt":"2025-12-21T02:40:09","slug":"why-nigerian-angolan-oil-is-struggling-to-find-buyers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/194250\/","title":{"rendered":"Why Nigerian, Angolan oil is struggling to find buyers"},"content":{"rendered":"<p textalign=\"\" class=\"\">Unsold oil<\/p>\n<p textalign=\"\" class=\"\">Such a large amount of unsold oil is unusual, especially for the current month, given the West African trade cycle is typically closer to two months ahead. Estimates for both countries&#8217; overhang were as high as 40 million barrels earlier this week.<\/p>\n<p textalign=\"\" class=\"\">Supplies from the Middle East are displacing medium and heavy West African grades in Asia as lowered official selling prices in January and shorter voyages give those grades a competitive edge, the analysts said.<\/p>\n<p textalign=\"\" class=\"\">India&#8217;s oil imports from Russia\u00a0have remained resilient despite tightening Western sanctions, displacing medium-heavy density West African crudes, while light to medium-density West African grades are struggling to compete with supplies from Argentina and Brazil, two traders said.<\/p>\n<p textalign=\"\" class=\"\">Nigeria has also been left to market more oil because of reduced imports by Africa&#8217;s largest oil refinery, the 650,000 barrels-per-day Dangote plant, which will in January undergo maintenance, Kpler&#8217;s Grabenwoger said.<\/p>\n","protected":false},"excerpt":{"rendered":"Unsold oil Such a large amount of unsold oil is unusual, especially for the current month, given the&hellip;\n","protected":false},"author":2,"featured_media":194251,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-194250","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/194250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=194250"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/194250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/194251"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=194250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=194250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=194250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}