U.S. Spends $2.7bn on Nigerian Crude in Six Months

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The U.S has agreed to increase its imports of Nigerian crude by 32.1 percent to 52.36 million barrels in the first half of the year, spending a total of $2.7 billion on oil imports from Nigeria during the period.

The US Energy Information Administration, the statistical arm of the Energy Department, revealed in its latest data that the country bought a record 10.24 million barrels from Nigeria in March, the highest monthly import since July 2013.

It imported 9.78 million barrels in January; 5.96 million barrels in February; 9.16 million barrels in April; 8.69 million barrels in May and 8.53 million barrels in June.

With Bonny Light, Nigeria’s main export grade, averaging $51 per barrel in the first half of the year, the 52.36 million barrels imported by the US translate to an income of about $2.67bn for the country.

 

 

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