OEF Rapid Review Articles
West African producers led by Angola and Nigeria are set to send crude to China at the rate of 1.48 million barrels a day in April, the most since Bloomberg began compiling the data in August 2011, according to loading programs and traders. Overall Asian imports of West African crude are poised to reach 2.4 million barrels a day this month, also a record. Asia’s increasing purchases of West African crude provides a valuable source of income for Angola and Nigeria, both of which rely heavily on oil revenues to fund government spending.
LINK TO THE SOURCE ARTICLE:
China To Import Record Amounts Of Crude Oil From West Africa
