(Reuters) Nigerian crude differentials stayed under downward pressure on Friday due to ample supply as the coronavirus outbreak limits demand. Nigeria has about 35 unsold April-loading cargoes due to a drop in demand, according to traders.
The state oil company this week put the total number at around 50.There is a strong supply of competing crude, a trader said, plus dwindling storage options. Qua Iboe was last offered at dated Brent plus $2.00 and a trader expected sold prices to go lower.