Nigeria struggles to find buyers for October oil exports

(Bloomberg) --Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers.

As much as two-thirds of Nigeria’s crude for October export has yet to find buyers, according to traders specializing in the West African market. That’s enough to fill 30 Suezmax tankers, each carrying 1 million barrels of oil.

Indian Oil Corp. -- Asia’s biggest buyer of Nigerian crude from the region -- has disappointed the market for a second week, compounding already sluggish sales to Europe, the producer’s other main market, the people said. Earnings for ships hauling West African oil to that region are at the lowest level in a month.

The state oil refining giant purchased just 2 million barrels of Nigerian oil in its latest tender, after a 1-million-barrel buy the previous week. IOC typically bought as much as 20 million barrels of West African crude per month before the pandemic.

https://www.worldoil.com/news/2021/9/9/nigeria-struggles-to-find-buyers-for-october-oil-exports

Much Better if we don't find buyers sef, so that we can get back to our senses.

The funny thing is that I think these resources ought to put us at fast pace development to catch up with Europe.

We should be thankful for countries like Afghanistan, Iran, Iraq because sensible countries like UAE, Turkey, Isreal are all startup countries which is making Nigeria look like a joke.

No more oil exports, let the economy collapse, make everybody find their level.

How we go get dollar?

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FakeUnity:
No more oil exports, let the economy collapse, make everybody find their level.

You think if the economy collapsed everyone will find their way, so much weapons have been bought when we still had money and the little money in the reserve can finance the Military for the next 20 years lol better wear your winter jacket

AlexBells:

You think if the economy collapsed everyone will find their way, so much weapons have been bought when we still had money and the little money in the reserve can finance the Military for the next 20 years lol better wear your winter jacket

The weapons will need to be serviced intermittently. You'll still be paying Americans to service your super tucano jets every year in dollars, you will also need to buy their spare parts.

They could press a button in pentagon and it would be grounded and demobilized in Kaduna.

FakeUnity:


The weapons will need to be serviced intermittently. You'll still be paying Americans to service your super tucano jets every year in dollars, you will also need to buy their spare parts.

They could press a button in pentagon and it would be grounded and demobilized in Kaduna.

You know you joking right, why would America disable our weapons, and who told you that if money finish that Nigeria would not adapt, once money finish merit and true service will come and we would be able to maintain our weapons by ourselves.

You and I knows that Nigeria's money is not finishing anytime soon, if oil finish we switch to Zamfara gold if they try to stand against us, the South goes to war with The North and we would win becuase God shall be by our side they drank from our oil.

If gold finish we switch to uranium if all finish we annex Niger and Chad and continue milking them, if Niger and Chad go broke, we deal with China and sell Africa, buy a space ship from Elun Musk and fly all of our population to Mars and start a new civilisation.

The dude above me is a capital big CLOWN, @ the topic, I don't see any benefit a common easterner has gotten from Nigeria oil sales. Let the worst happen, Easterners have so long prepared for it.

Edon dey red small small