LONDON, Aug 15 (Reuters) - The impending release of theOctober crude loading programmes kept trade in both Nigerian andAngolan cargoes fairly subdued, traders said on Wednesday.
* Differentials for Nigerian grades have fallen to aroundtheir lowest in over a month because of a persistent overhang ofunsold crude, leaving the market at its most oversupplied inmonths, traders said.
* As much as half of the Nigerian crude for loading inAugust and September is said to be available for sale, out of anoriginally planned 59 cargoes, although one trader said the dropin prices had cut what remained from the August programme toaround 5-10 million barrels.
* Forcados was offered around $1.35 last week and closer to$1.50 around three weeks ago, while Bonny Light differentialswere drifting closer to $1.10-1.20 a barrel above dated Brent,from around $1.35 when Shell was said to be offering cargoeslate last week.
* Unipec was heard to offer a cargo of Angolan Saturno fordelivery in Shandong in mid-September at a premium of 75 centsto dated Brent, as well as a cargo of Cabinda for delivery inmid-October at a premium of $2.05 to the dated price, traderssaid.
RELATED NEWS
* Oil major BP on Tuesday offloaded about 1 millionbarrels of Angolan crude from supertanker 'Olympic Light' to anindependent Chinese refiner after holding the oil at sea forabout three months, people with knowledge of the discharge saidon Wednesday.
* India's Reliance Industries has declared force majeure ongasoline exports from its Jamnagar site, four people familiarwith the matter said on Wednesday, causing the profit marginfrom producing the fuel to jump to its highest since September.
* Iranian Oil Minister Bijan Zanganeh will attend a meetingof an OPEC/non-OPEC committee that monitors output compliance,known as the JMMC, in Algeria in September, the IranianStudents' News Agency (ISNA) reported on Wednesday.(Reporting by Amanda Cooper; Editing by Jane Merriman)))
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