LONDON, Oct 8 (Reuters) - West African crude oildifferentials slipped on Monday as a glut of unsold cargoes forloading in November showed that a range of grades were out offavour.
More than 20 Nigerian cargoes and a clutch of other WestAfrican crude cargoes were still unsold in the market as demandfrom U.S., Chinese and European refiners was constrained by aheavy maintenance schedule.
"There's too much oil around," one trader said.
Demand from China was reported to be lower, in part due torefinery outages and the closure of three Sinopec plants due toenvironmental problems.
"There are issues at refineries; it all has an impact on theoverall level of demand," a trader said.
The Sinopec Qilu refinery closed a 160,000 barrels-per-day(bpd) crude unit for a planned 25-day maintenance period onMonday, an industry official said.
On a longer-term horizon, however, the picture for Asiandemand still looked robust.
Imports of West African crude oil by Asian refiners andend-users have reached 1.69 million bpd this month, up 10percent from September and at a record high for October, datacompiled by Reuters showed on Monday.
* Some 20 of 72 Nigerian crude oil cargoes loading inNovember were reported still unsold, including most majorgrades.
* Qua Iboe: down around 20 cents, with the bid-offer rangeseen at dated Brent plus $2 to $2.20, below the $2.10 to $2.50range seen on Friday.
Bonny: Qua Iboe minus 60 cents due to unreliability ofloading dates and variable quality, traders said.
* Some eight Angolan cargoes due to load in November werestill unsold, comprising two Girassol, two Dalia, and a cargoeach of Kissanje, Plutonio, Saxi and Pazflor.
* Girassol: Two end-November stems were still available: aBP stem for Nov. 19-20 and a Sonangol stem for Nov. 24-25delivery. Total was reported to have taken one cargo for its ownprogramme due to lack of buying interest.
* Offers have fallen sharply this month from around datedBrent plus 50 cents to just over dated Brent flat, but bids werewell below flat, traders said.
* India's biggest state-owned refiner, Indian Oil Corp,closed a tender late on Thursday to buy light, sweet crude oil,its first for December loading.
* IOC bought one VLCC comprising Bonga and Forcado gradesfrom Shell and the other comprised of Forcados and Jubilee fromVitol, traders said.
For a database of oil supply and demand fundamentalsupstream and downstream, Reuters subscribers can click on:
($1 = 0.6176 British pounds)
(Reporting by Simon Falush; editing by Jane Baird)
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Keywords: MARKETS OIL/WESTAFRICA