Business and Economy
Nigeria: India overtakes US as biggest importer of Nigerian crude oil
Gates to a Port Harcourt Refining Company Ltd. oil refinery. Photo by sixoone / Flickr.
LAGOS, Nigeria—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.
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The U.S. boom in domestic shale oil production is behind the shift.
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