West Africa’s crude exports to Asia fall in May

Oil

West Africa’s crude oil exports to Asia declined by 125K b/d m-o-m and 250K b/d y-o-y to 2.06M b/d in May, Energy Intelligence reports. Eastbound exports from Nigeria decreased by 82K b/d m-o-m to 530K b/d, falling after previously reaching a one-year high in April, whereas shipments from Angola edged up by 4K b/d m-o-m to 962K b/d. Total loadings to China tumbled by 97K b/d m-o-m and 682K b/d y-o-y to 1.05M b/d, while exports to India increased by 90K b/d m-o-m and 336K b/d y-o-y to 584K b/d.