Nigeria to export more oil in July, increases prices

Nigeria will increase the export of two of its crude grades in July as a sign that the full lockdown caused by the COVID19 virus across the globe is gradually easing.

Loading schedules sourced from Reuters showed a higher output of key grades in the country’s July crude oil loading programmes.

Export of the country’s key crude oil grades, Forcados and Qua Iboe, will jump in July, while Bonny Light will edge slightly lower, loading programmes showed on Tuesday.

Forcados crude oil exports are set to jump to 272,000 barrels per day in July, from 190,000 bpd in June, while Qua Iboe will load at a rate of 215,000 bpd in July, up from only 95,000 bpd in June.

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Source: SweetCrudeReports

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