Major buyers of the Nigerian crude oil in the North and South America have slashed their imports from the country, the latest report from the Nigerian National Petroleum Corporation has shown.
In July, Brazil bought 2.92 million barrels of oil from Nigeria; the United States imported 6.79 million barrels; while Canada imported about 2.99 million barrels from the country, the NNPC stated.
The US, which overtook India in June as the single largest buyer of Nigerian crude, saw its import of the country’s crude rise to a high of 12.12 million barrels in February.
South America’s total imports of Nigerian crude plunged to 974,577 barrels in August, compared to 4.89 million barrels in July, while North America reduced its imports to 5.05 million barrels from 9.79 million barrels. Read more here.