US DEMAND FOR NIGERIAN CRUDE RISES

Nigerian crude oil differentials were stable on Thursday, with traders saying that demand from Europe and the United States has offset weaker demand from Asian buyers. According to Reuters, traders said purchases of Nigerian oil for October from the US were at significantly higher levels than for earlier months

 

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US REFINERIES EXPOSE TO DANGERS OF LIGHTER SHALE OIL

The decision of the United States to stop the importation of Nigeria’s light blend of crude oil due to the shale oil boom has exposed the US refineries to the dangers associated with the processing of lighter shale oil.

As a result of the increased domestic production of shale oil, the US has slashed crude  oil imports from a peak of almost 14 million barrels per day in 2006, to slightly above 7 million barrels per day.

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