According to reports, the West African nation accounted for more than half of all African crude imported by the US during the eight-month period, shipping 33.23 million barrels out of a total 60.75 million barrels, or 55% of all African crude imports into the US this year. Senior International Trade Consultant and Author of Economic Diplomacy of the Diaspora, Collins Nweke says the surge is driven by a mix of global supplier realignment and domestic changes.
“With the US cutting back from producers of Latin American and middle eastern suppliers due to sanctions , quality concerns and geopolitical tensions it needed a reliable Atlantic supplier and Nigeria perfectly fits that space perfectly well, NIgerian crude blends the bonded lines as a college that is easier,” he said.
–SABC–
