US imports of Nigerian crude increased by 32.1% in H1 2017
The import of Nigeria’s crude oil by the United States increased by 32.1 per cent to 52.36 million barrels in the first half of this year, compared to the same period in 2016, The Punch reports.
The US Energy Information Administration, the statistical arm of the Energy Department, revealed in its latest data that the country bought a record 10.24 million barrels from Nigeria in March, the highest monthly import since July 2013. It imported 9.78 million barrels in January; 5.96 million barrels in February; 9.16 million barrels in April; 8.69 million barrels in May and 8.53 million barrels in June.
The US almost tripled the volume of crude oil bought from Nigeria last year, with the biggest monthly import of 8.43 million barrels in July. It imported 76.9 million barrels of Nigeria’s oil in 2016, up from 19.9 million barrels in 2015. Nigeria had seen a significant reduction in US imports of its crude in recent years, starting from 2012, following the shale oil production boom.