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5 African countries with largest crude oil import from the US

*The decision by African countries to import US crude oil is to bridge the gap when there’s a shortfall in production and high demand for oil

Despite the massive stash of natural resources in Africa – from oil and cobalt to diamonds, platinum, and uranium, most African countries still source their crude oil from the United States of America.

According to the International Energy Agency (IEA), five of the top 30 oil-producing nations in the world are countries – Nigeria, Angola, Algeria, Libya and Egypt. They also account for4. 5% of the global oil supply.

The decision by African countries to import US crude oil is to bridge the gap when there’s a shortfall in production and high demand for oil.

The U.S. currently stands as the highest oil producer globally accounting for about 17.5% of global oil production exporting the surplus products to countries that have a shortfall in production.

According to Wisevoter, the following African countries imported the largest volume of oil from the United States;

Nigeria led other African nations in importing the largest volume of crude oil from the U.S. at 125 MIllion barrels per day (Mbbl/d). Globally, Nigeria placed 11th position among countries that import U.S. crude oil.

Libya came in second position with an import volume of 91 Mbbl/d. The report placed Libya in 14th position globally among countries that imported crude oil from the U.S.

Ghana is ranked in third position with an import of 51 Mbbl/d of U.S. crude oil, placing it 17th on the global scale.

Another major oil and gas producing country, Algeria ranks fourth in this report with an import volume of 40 Mbbl/d and 19th position globally.

Despite being a major oil-producing country, Angola with an import volume of 36 Mbbl/d ranks in fifth position in Africa and 25th in the world.

SOURCE: pulse.ng

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