Nigeria's Crude Faces Glut Over U.S. Shale Production

18 September 2018

Indications emerged yesterday that the sale of Nigeria crude oil in the international market is currently facing challenges due to surging production of United States shale crude, which experts say has similar geological properties.

According to loading programmes compiled by Bloomberg, about 25 out of 60 Nigerian cargoes scheduled for October export remain unsold, while trading will switch to November shipments next week when new programmes are released.

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