China has returned to be the main buyer for Angola’s November crude program, data from Platts shows, contrasting with the previous trading cycle, when more barrels headed to European refineries and the US. “Asia took more and Europe and the US took less in November,” an Angolan crude trader said. “It’s a role reversal from the previous month.” Angolan crude is heavily dependent on China, with 40%-60% of Angolan crude exports typically going there every month. Unipec, the trading arm of Chinese state-owned Sinopec, is by far the largest buyer of Angolan crude, often buying 35%-40% of the monthly export program. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more However, during […]