The U.S. exported a record amount of crude oil to Nigeria in June

The U.S. has historically been an importer of Nigerian crude oil, with monthly flows regularly reaching 1 million barrels per day in 2010. Imports have declined over the past 15 years as U.S. domestic production increased and Nigeria’s production fell. Now the ramp-up of Nigeria’s Dangote refinery (650 kb/d capacity) – the largest in Africa – is reshaping trade flows across the Atlantic. The U.S. has been a net exporter of crude oil to Nigeria in four of the past six months, with gross exports surpassing 300 kb/d in June. These record flows made Nigeria the 4th largest destination for U.S. crude in June. At the same time, press reports indicate the U.S. imported gasoline from the Dangote refinery for the first time in September.