Nigeria Update: US import of Nigerian crude hits four-year high

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Nigeria Update: US import of Nigerian crude hits four-year high

For the first time in more than four years, the United States’ monthly import of Nigerian crude oil rose to 12.29 million barrels in August, the latest report from the US Energy Information Administration has revealed. The US imported a total of 28.53 million barrels of crude oil from Nigeria in the third quarter of this year, up from 18.88 million barrels in the same period last year; 10.13 million barrels in 2015; 5.10 million barrels in 2014; and 21.23 million barrels in 2013.Nigeria saw a significant reduction in the US imports of its crude in recent years, starting from 2012, following the shale oil production boom. The US import of Nigerian crude fell to 6.17 million in June 2013 from 10.115 million barrels in May and about 40 million barrels in March 2007.

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