Crude Oil Trade: US Becomes Net Exporter to Nigeria in a February First
Here’s the situation:
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In February and March 2025, the U.S. became a net exporter of crude oil to Nigeria for the first time. Specifically:
- February 2025:
- U.S. exported ~111,000 b/d of crude to Nigeria
- U.S. imported only ~54,000 b/d from Nigeria
- March 2025:
- U.S. exports rose to ~169,000 b/d
- Imports remained lower at ~72,000 b/d.
What drove this shift?
- U.S. East Coast refinery maintenance, notably at Phillips 66 Bayway in New Jersey, lowered America’s demand for crude imports during those months.
- Meanwhile, Nigeria’s Dangote Refinery—Africa’s largest at a capacity of 650,000 b/d, which began operations in January 2024—ramped up its processing needs, increasing demand for U.S. crude exports.
Temporary or permanent?
Experts describe this as a snapshot of market dynamics, not a long-term reversal. As U.S. refineries resumed normal operations in April and Dangote managed maintenance issues, traditional patterns—Nigeria exporting to the U.S.—resumed.
Why it matters:
Highlights how maintenance schedules and new refining capacity (like Dangote) can temporarily reshape global oil flows.
Represents a milestone in bilateral trade, where U.S. briefly overtook Nigeria as a net crude supplier.
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