By Debo Popoola
Nigeria’s crude oil has become the preferred crude for United States’ refining firms as that country’s importation of Nigeria’s crude surged up in recent times to 559,000 barrels per day; the last time the demand for Nigeria’s crude by the United States was so high was in the mid-2013.
The Unites State had always been the major importer of Nigeria’s crude, but the increase in the production of shale oil resulted to decrease in demand of Nigeria’s crude, and this made Nigeria look elsewhere for buyers of its crude.
Also, the diplomatic tie between the two countries was strained during the last administration of former President Goodluck Jonathan. The United States had accused the former President of lacking the will to fight corruption and insecurity in the country, this translated to the States reducing its demand of the nation’s crude and opting for crude from fellow North American oil producing nations of Columbia and Mexico.
It can be inferred that recent anti-corruption fight and restructuring going on in the petroleum sector might have restored confidence in Nigeria’s crude resulting to United States’ increased demand for it.
