Us slashes imports of nigerian crude by 43

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The United States has significantly reduced its imports of Nigerian crude oil, with data showing a 43% decrease in the volume of Nigerian crude imported by the US in recent months. This development is attributed to a combination of factors, including increased domestic oil production in the US, changes in global oil market dynamics, and the ongoing COVID-19 pandemic.

Nigeria has traditionally been one of the largest oil exporters to the US, with the country's crude oil accounting for around 10% of the US's total oil imports. However, the US has been increasing its domestic oil production in recent years, which has reduced its reliance on foreign oil imports.

Additionally, the COVID-19 pandemic has had a significant impact on global oil demand, leading to a decline in oil prices and a reduction in oil imports by many countries, including the US. As a result, the US has been able to reduce its imports of Nigerian crude oil, which has had a positive impact on its trade balance and energy security.

It's worth noting that while the US has reduced its imports of Nigerian crude oil, Nigeria remains an important oil producer and exporter, and the country continues to play a significant role in the global oil market.