Nigeria’s crude oil may enjoy a resurgence in the United States as many analysts believe it is well suited to meet a current gap in the market created by lower production of shale oil.
SweetcrudeReports had reported last week that Nigerian crude appears to be enjoying a little respite lately as the Brent/WTI crude futures’ spread narrows, and arbitrage opportunities are beginning to open up for Nigerian crude to head trans-Atlantic, with a few cargoes said to be heading to US refineries, trading sources said.
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