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US Boost West African Crude Imports

OIL

US refiners are boosting imports of West African crude according to Refinitiv data.

  • Imports from West African nations were at least 11.6 million barrels in the second quarter, the highest since the third quarter of 2019.
  • West African imports spiked in May with 5.2 million barrels being discharged in the United States, more than doubling from April.
  • Light West African imports have risen in part because of its high gasoline yield as the US faces a backdrop of soaring pump prices, which have started to reverse of late. US crude imports have also been shaken up by a lack of Russian crude and fuel oil barrels.
  • The US share of West Africa light sweet crude imports climbed to about 20% last month, from about 8.2% before the invasion of Ukraine.
Energy BulletsCommodities
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