L
LequteMan
Guest
The United States is increasing its purchase of crude oil from Nigeria according to the preliminary data released by the US Energy Information Administration (EIA) for week ended May 12.
The data shows that US crude imports from Nigeria rose by 13.6 per cent to 325,000 barrels per day from 286,000 b/d, the highest it has been since March.
Although the EIA data shows that Nigeria is still US highest crude exporter in Africa, Angola's rate was higher, witnessing an increase of 42.8 per cent- from 63,000 b/d to 90,000 b/d.
Overall, US crude imports from Saudi Arabia rose the highest at 42 per cent to 1.38 million b/d from 970,000 b/d.
The increase came despite the threat of a potential rise in shale oil production on the back of the rally in global oil prices.
The data shows that US crude imports from Nigeria rose by 13.6 per cent to 325,000 barrels per day from 286,000 b/d, the highest it has been since March.
Although the EIA data shows that Nigeria is still US highest crude exporter in Africa, Angola's rate was higher, witnessing an increase of 42.8 per cent- from 63,000 b/d to 90,000 b/d.
Overall, US crude imports from Saudi Arabia rose the highest at 42 per cent to 1.38 million b/d from 970,000 b/d.
The increase came despite the threat of a potential rise in shale oil production on the back of the rally in global oil prices.
