US monthly oil imports from Nigeria down 89% to 539,000 barrels per dayChristian Fernsby ▼ | May 7, 2019
The United States’ crude oil imports from Nigeria plunged to 539,000 barrels per day in February from 4.87 million bpd in January.
Africa The country bought 5.18 million bpd in December, down from 10.03 million bpd
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. ■