Nigeria: Crude Oil Suffers Setback As More Traders Opt for U.S. Blend

16 November 2017

Nigeria's crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said.

Besides, Nigeria's crude oil production declined by 54,200 barrels per day (bpd) from the 1.792bpd it recorded in September to 1.738 bpd in October.

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