U.S. Now Supplies More Crude Oil to Nigeria Than It Receives
In a significant shift within the global oil market, the United States has recently found itself in a unique position - exporting more crude oil to Nigeria than it imported during February and March of 2024. This revelation, highlighted by the U.S. Energy Information Administration (EIA), marks a pivotal moment in trade dynamics that hasn’t been seen before. Interesting, isn’t it? How a series of events can lead to such a reversal in the balance of trade.
This transition was primarily spurred by a notable…