OpeOluwani Akintayo
Lagos — Nigeria has increased official selling prices of its crude oil on the international market even as the market rebalances after lifting of the COVID-19 lockdown and output cuts by OPEC+.
Loading schedules published by Reuters and seen by SweetcrudeReports shows that the African oil-producing country raised its July official selling prices for Bonny Light and Qua Iboe crude to dated Brent plus 19 cents and plus 22 cents per barrel, respectively, as a result of an improved market demand.
Bonny Light and Qua Iboe were still being offered at dated Brent plus 50 cents to $1.00, depending on loading dates.
The Qua Iboe stream will load just six cargoes.