Nigeria’s Monthly Oil Export To US Rises By 56 Percent

The export of Nigerian crude oil to the United States rose by 56 per cent to 13.67 million barrels in October last year, the highest level since February 2013.

The latest data obtained from the statistics arm of the US Energy Department, Energy Information Administration, showed that the country imported 8.76 million barrels of Nigerian crude in September, down from 12.29 million barrels in August.

The US imported a total of 28.53 million barrels of crude oil from Nigeria in the third quarter of last year, up from 18.88 million barrels in the same period in 2016; 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.

Photo Caption: Ibe Kachukwu Minister of State Petroleum