RSS   Newsletter   Contact   Advertise with us
Post Online Media
Post Online Media Magazine

US monthly oil imports from Nigeria down 89% to 539,000 barrels per day

Share on Twitter Share on LinkedIn
Christian Fernsby ▼ | May 7, 2019
US monthly oil imports
Africa   The country bought 5.18 million bpd in December, down from 10.03 million bpd

The United States’ crude oil imports from Nigeria plunged to 539,000 barrels per day in February from 4.87 million bpd in January.

The US imports of Nigerian crude have dropped in recent months, hitting almost a four-year low in February.

The country bought 5.18 million bpd in December, down from 10.03 million bpd in January 2018, the latest data obtained from the Energy Information Administration on Friday showed.

Its imports of Nigerian crude oil dropped by 48.87 million barrels or 43 per cent in 2018, the EIA said.

The US imports of Nigerian crude fell to 64.06 million barrels last year from a five-year high of 112.92 million barrels in 2017.

The EIA data showed that the country imported 75.81 million barrels of Nigerian oil in 2016, up from 19.85 million barrels in 2015.

US imports of Nigerian crude fell from 148.48 million barrels in 2012 to 87.40 million barrels in 2013 on the back of shale oil boom.

Light sweet Nigerian crude is very similar to the light oil produced in US shale. As US shale production has grown, the appetite for Nigerian crude in the US has dropped dramatically.


What to read next
POST Online Media Contact