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Weak Interest in Nigerian Crude March


Nigerian crude exports are being hit by French strikes according to Bloomberg.

  • Between 20 and 25 shipments of Nigerian crude for April loading are still searching for buyers – around half of available cargoes for the month.
  • France is typically one of Nigeria’s biggest crude buyers.
  • France took an average of 110,000 barrels a day of Nigeria’s oil over the past year but is pulling in around 50% of its regular overall crude volumes at present.
  • Nigerian cargoes are also facing weaker demand from the rest of Europe because of seasonal maintenance which is pressuring prices.

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