West African crude loadings to Asia reach nine-month high in January

Oil

West Africa’s crude oil exports to Asia increased by 240K b/d m-o-m to 2.15M b/d in January, rising for the second consecutive month to the highest level since April 2021, Energy Intelligence reports. Loadings from Nigeria jumped by 290K b/d m-o-m to 620K b/d, the highest since April 2020, supported by shipments to India which rose by 190K b/d m-o-m to 340K b/d. Exports from Angola also built by 100K b/d m-o-m to 1.05M b/d, with loadings to India increasing by 190K b/d m-o-m to 280K b/d. Shipments to China declined by 80K b/d m-o-m to 710K b/d however.