Angola diffs crash to 2020 levels

Several Angolan cargoes traded on Friday at the lowest levels in over two years as global demand, particularly from China, remained subdued.

* Angola's state oil firm Sonangol was said to have sold its January loading cargo of Glencore at around dated Brent minus $2.00 and a cargo of Girassol at around dated Brent minus 75 cents a barrel to Exxon Mobil.

* The Cabinda and Girassol prices have fallen to the lowest level since May 2020.

* China's CNOOC sold its cargo of January loading Akpo.

* Perenco issued a sell tender for Congolese CoCo crude and Gabonese Rabi Light loading end-January. Results will emerge next week.

* Tullow sold cargoes of Ghanaian TEN and Jubilee after offering them at dated Brent minus $2.50 and minus $1.50, respectively.


* Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday.

* Russia, the world's biggest exporter of energy, could cut oil production and will refuse to sell oil to any country that imposes the West's "stupid" price cap on Russian oil, President Vladimir Putin said on Friday.

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