• Thursday, July 18, 2024
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Nigeria to boost July Qua Iboe crude exports to 16-month high

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Nigeria is set to increase exports of its benchmark Qua Iboe crude in July to the highest in 16 months, according to a loading program obtained by Bloomberg News.

The country will ship 13 cargoes of 950,000 barrels each, or 398,387 barrels a day, the plan showed.

That compares with daily exports of 316,667 barrels in June and matches the March 2012 figure, according to data compiled by Bloomberg News.

Qua Iboe’s premium to Dated Brent fell by 3 cents to $2.87 a barrel last Wednesday, the lowest since February 27 data compiled by Bloomberg show. Shipments of Nigeria’s Yoho grade will double to two 950,000-barrel consignments in July, a separate plan showed.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.