Asian demand for West African crude for December loading has fallen to the lowest levels in more than four years, traders said on Thursday, reflecting a fall in global oil consumption amid economic slowdown.

Asia's purchase of West African crude, mainly Nigerian and Angolan, is around 858,000 barrels per day in December, matching the volume in August 2007.

The levels are the lowest in Reuters data, which dates back to June 2004.

The December volume is 6 percent down from around 918,000 bpd in November. Demand in December 2007 was about 1.22 million bpd.

Exports from Nigeria and Angola are about 3.8 million bpd for December loading.

India and China remained the main Asian buyers of West Africa.

India's purchase of West African crude, mostly Nigerian and Angolan, has fallen to 8 cargoes, or 245,000 bpd, in December from around 11 cargoes, or 348,000 bpd in November.

The Indian imports in December are the lowest since June this year. They are down by nearly 35 percent from November and down by 75 percent from the levels seen in October.

China's purchase of West African crude has fallen to around 490,000 bpd in December from 538,000 bpd in November, a difference of one cargo of crude oil.


SPOT PREMIUMS ALSO DOWN

"Crude going to Asia has dropped off, demand for West African crude has slowed almost everywhere, less has gone to the U.S. this month as well," one physical trader said.

The fall in demand from China, India and the United States, the main buyers of West African oil, have slashed spot differentials, especially on high quality Nigerian crude.

Spot premiums on Nigerian gasoline-rich Qua Iboe have fallen to about dated Brent plus about $2 a barrel from its record high premium of $4.80 to dated in June, before international benchmark U.S. crude futures prices hit its peak above $147 in July on the back of strong energy demand from emerging economies such as India and China.

Analysts in a Reuters poll published on Wednesday expected oil demand to make the first drop since early 1980 in this year and next. [ID:nLQ285707]

West African crude oil exports gained marginal support from Taiwan. It bought 4 cargoes of West African crude for December loading, or around 123,000 bpd, up from around 32,000 bpd in the previous month.

Through tenders, the country's largest refiner CPC Corp. bought crude from Angola, Equatorial Guinea and Cameroon in December and currently has a January tender in place for West African crude.

The following table gives the latest breakdown of December, November and October-loading West African crude cargoes sold into Asia, according to trade sources.

Figures are rounded.

DEC NOV OCT COUNTRY CARGOES BPD CARGOES BPD CARGOES BPD CHINA 16 490,000 17 538,000 17 521,000 INDIA 8 245,000 11 348,000 19 582,000 INDONESIA 0 0 0 0 1 31,000 TAIWAN 4 123,000 1 32,000 4 123,000 KOREA 0 0 0 0 0 0 JAPAN 0 0 0 0 0 0 OTHERS 0 0 0 0 0 0 TOTAL 28 858,000 29 918,000 41 1.26 MLN https://customers.reuters.com/community/commodities/graphics/Wafrica_Flows.htm. (Reporting by Joe Brock; editing by Ikuko Kao and James Jukwey)

S: reuters