• Nigeria’s crude oil exports are set to increase as Exxon claims to have filled storage facilities at its Qua Iboe export terminal and awaiting government clearance to export.
  • Force majeure, however, still exists as Exxon declined to state a specific date for resuming exports
  • Another Nigerian grade operated by Royal Dutch Shell Plc is also scheduled to restart soon.
  • Both exports, if materialized, could increase shipments by about 540,000 barrels daily, using last year’s estimates.
  • Source: Bloomberg
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