US Spends $579m on Nigerian Crude in Q1 2026 as Imports Fall 15%

The United States paid $578.78 million for Nigerian crude oil in the first quarter of 2026, down 15% from $681.40 million in the same period of 2025. Volumes dropped to 7.84 million barrels from 8.44 million barrels, reflecting weaker demand and shifting trade dynamics. Monthly figures show a sharp decline in imports from 4.64 million barrels in February to 1.54 million barrels in March. The CIF value also fell from $345.33 million in February to $114.49 million in March, mirroring the drop in customs values and pointing to short-term supply adjustments. Despite these setbacks, Nigeria remains a key African supplier, accounting for about 34.8% of U.S. crude imports from the continent in Q1 2026. Industry data also highlight domestic challenges, including pipeline outages that curbed output and evacuation issues, even as NNPC pursues recovery plans to stabilise production.

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