Asia bought 57 cargoes totaling 1.74 million barrels a day from Angola, Nigeria, Equatorial Guinea, Republic of Congo, Gabon, Ghana and Democratic Republic of Congo, according to a survey of five traders and an analysis of loading plans obtained by Bloomberg News. That compares with 1.6 million in March and is the most since 1.8 million in January.
PT Pertamina Persero, Indonesia’s state-owned oil company, bought 1.9 million barrels of crude for June delivery to its Cilacap refinery, said a company official who asked not to be identified because the transaction is confidential.
The company will take 950,000 barrels of Nigeria’s Qua Iboe crude and the same amount of Azeri Light oil from Azerbaijan, said the official.
Brent for May settlement traded at $109.01 a barrel on the ICE Futures Europe exchange in London at the close of the window, compared with $109.29 in the previous session. The June contract was at $108.71, a discount of 30 cents to May.