American Refiners Boost Nigeria Oil Purchases as Exports Rebound 150% in May

By Adedapo Adesanya

Nigeria’s crude oil exports to the United States rebounded strongly in May as shipments rose by nearly 150 per cent month-on-month as American refiners increased purchases of overseas crude.

Latest data from the US Census Bureau showed that crude imports from Nigeria climbed to 2.36 million barrels in May, compared with 946,000 barrels recorded in April.

This indicated renewed demand for Nigeria’s premium light sweet grades amid shifting global patterns and higher international oil prices as the Middle East disruption weighed on trade.

The value of the imports also rose sharply to $279.8 million, up from $85.2 million in the previous month, reflecting both the higher volume of purchases and stronger crude oil prices during the period.

The rebound coincided with a broader increase in crude oil imports by the US.

According to the latest US International Trade in Goods and Services Report, total US crude imports increased by $1.5 billion in May, making crude oil one of the largest contributors to the $12.3 billion rise in overall goods imports during the month.

The report also showed that imports of industrial supplies and materials increased by $3.1 billion, with crude oil accounting for nearly half of the increase.

The recovery marks a significant turnaround after two consecutive months of declining Nigerian crude shipments to the US market. Export volumes had fallen from 4.64 million barrels in February to 1.54 million barrels in March, before dropping further to 946,000 barrels in April.

Despite the fluctuations, cumulative exports between January and May 2026 reached 11.15 million barrels, valued at approximately $926.6 million, reaffirming Nigeria’s strategic position as a key supplier of premium low-sulphur crude grades to the world’s largest economy.

Concerns surrounding crude shipments through the Strait of Hormuz, one of the world’s busiest oil transit routes, are encouraging refiners to increase purchases from Atlantic Basin producers such as Nigeria, whose crude grades offer lower geopolitical shipping risks than some Middle Eastern supplies.

Nigeria’s flagship crude grades, including Bonny Light, Qua Iboe and Escravos, remain highly sought after by US Gulf Coast refiners because of their low sulphur content and high yields of premium petroleum products such as petrol, diesel and aviation fuel.

Although the US has emerged as one of the world’s largest crude oil producers following the shale revolution, many American refineries continue to import light sweet crude to complement domestic production and optimise refining operations.

The rebound in exports also comes as Nigeria gradually restores crude production following improved security operations in the Niger Delta and intensified efforts by government agencies and operators to curb crude oil theft, pipeline vandalism and illegal refining.