Nigerian Crude Trades Above Brent as New Export Terminal Emerges
Nigerian crude oil has gained a slight edge over Brent crude in recent trading, with the country’s major blends commanding premium prices amid dynamic global market conditions.
Nigeria’s primary oil blends, including Brass River, Bonny Light, and Qua Iboe, last traded at $67.30 per barrel on Friday, marginally outperforming the current Brent contract. This price advantage comes as oil traders closely monitor ongoing peace talks between China and the United States.
Global crude oil prices experienced minor declines on Monday but retained most of last week’s gains as investors awaited developments in U.S.-China trade negotiations in London. Hopes for a potential deal have improved the global economic outlook and supported oil demand, with Donald Trump’s top aides scheduled to meet Chinese counterparts in the first session of the U.S.-China economic and trade consultation mechanism.
The Dangote Refinery continues to diversify its crude supply sources, importing one-third of its crude oil from the United States in 2025. The facility is projected to import 14 million barrels of WTI Midland across June and July alone, with the Vitol Group serving as the largest supplier of U.S. barrels. WTI offers advantages over Nigerian crude, particularly in yielding higher-quality reformates and enhancing gasoline blending capabilities.
This increased reliance on U.S. oil imports reflects the refinery’s rising processing capacity and declining availability of Nigerian crude, according to Dangote representatives.
Source: Nairametrics
