As the imports of US crude oil into Asia rises, the sale of crude oil from Nigeria and other West African countries may suffer in the months ahead due to strong competition, traders say. A crude oil trader was quoted by Punch as saying “What is more worrying is a structural change in the supply of US crude to Asia. It seems like more Asian buyers are increasingly terming US crude,” For Nigeria, this development comes when the country is struggling to clear its crude. Offer levels were said to be too high for several weeks shoving off European buyers.

Read more at: https://theoilbloc.com/u-s-oil-exports-pose-strong-competition-to-nigeria-others/