The United States imported $578.78 million worth of crude oil from Nigeria in the first quarter of 2026, marking a noticeable decline compared to the same period in 2025. According to data from the U.S. Census Bureau and the Bureau of Economic Analysis, this represents a drop of over $102 million or about 15 percent year-on-year.
In physical terms, shipments also fell. The U.S. received 7.84 million barrels of Nigerian crude between January and March 2026, down from 8.44 million barrels in the first quarter of 2025. Analysts say this reflects a combination of weaker short-term demand and adjustments in global oil supply patterns.
Month-on-month figures showed a sharper slowdown. Imports from Nigeria dropped significantly from 4.64 million barrels in February to 1.54 million barrels in March 2026. The value of imports followed the same trend, falling from $345.33 million in February to $114.49 million in March, highlighting reduced trade momentum toward the end of the quarter.
Despite the decline, Nigeria remains an important crude supplier to the U.S., especially for its light sweet crude grades used in refining. However, its share of total African crude exports to the U.S. dropped to about 34.8 percent in Q1 2026, down from 61.7 percent in the same period of 2025, as countries like Libya and Ghana gained more market share.
Industry data also points to broader challenges affecting Nigeria’s oil output and exports. The Nigerian National Petroleum Company Limited (NNPC) reported lower crude sales in March 2026, alongside pipeline disruptions that affected production. While output remained steady at 1.56 million barrels per day in March, operational setbacks—particularly the Trans Forcados Pipeline outage—continue to strain export consistency.
Overall, the figures suggest a reshaping of Nigeria’s crude oil trade with the U.S., driven by global energy shifts, logistical constraints, and rising competition from other African producers, even as Nigeria maintains its position as a key player in the market.
source: punch