India Main Importer Of Nigerian Oil, Overtakes US
- Publisher:
- Wochit
- Publication Date:
- 19 June 2014
- Tags:
- Nigeria, Trade, Asia, Australia, and Africa, Economy, Business and Finance
Nigeria's state oil company says India has overtaken the United States as the biggest importer of Nigerian crude. A statement Thursday says the U.S. has drastically reduced imports to 250,000 barrels a day. It says India is importing one-third of Nigeria's daily output of 2.5 million barrels, followed closely by China and Malaysia. The U.S. boom in domestic shale oil production is behind the shift.
