Dangote Refinery Lifts Nigerian Crude Purchases as Iran War Widens Price Gap With Angola
Updated
Updated · Bloomberg · Jun 12
Dangote Refinery Lifts Nigerian Crude Purchases as Iran War Widens Price Gap With Angola
1 articles · Updated · Bloomberg · Jun 12
Summary
Dangote refinery increased purchases of Nigerian crude, cushioning a broader pullback in demand for West African grades.
Overseas buyers have stepped back as uncertainty over any resumption of Middle East oil shipments persists during the Iran war.
That buying has lifted Nigerian crude prices relative to Angolan grades, sending premiums in the region’s two key exporters in opposite directions.
Nigeria and Angola form the backbone of West Africa’s oil market, so the divergence highlights how regional barrels are being repriced as the conflict drags on.