US SLASHES IMPORTS OF NIGERIAN CRUDE BY 43%
Written by thereachfm on March 11, 2019
Observers say the United States cut its imports of Nigerian crude oil by 48.87 million barrels or 43 % in 2018, according to the latest data released by the Energy Information Administration (EIA).
Meanwhile, the US imports of Nigerian crude had already fallen to 64.06 million barrels last year from a five-year high of 112.92 million barrels in 2017.
Light sweet Nigerian crude is very similar to the light oil produced in US shale which has grown in porduction causing, the appetite for Nigerian crude in the US to drop dramatically.
Already crude oil exports from the United States to the United Kingdom overtook supplies from other countries including Nigeria for the first time since such shipments began in 2015.