July 14, 2022 09:39 GMT
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.