Nigerian crude supply may reach 3 month high in October

More Nigerian loading programmes emerged on Monday, following the release of the three largest supply schedules last week and showed supply in October could well reach its highest in three months.

There are still a few smaller programmes yet to be released, but so far October is shaping up to be fairly hefty, based on available loading schedules seen by trading sources.

So far, at least 38 cargoes of Nigerian crude will load in October, for a daily rate of 1.12 million barrels per day, up from around the same level for September and the largest supply programme since July’s 51 cargoes.

Traders say there are still nearly 30 unsold cargoes from the August and September programmes combined.