Nigerian grades may have fallen out of favour somewhat in Asia, as Asian buyers cut their intake of Nigerian crude in favour of U.S. crude among others.

Nigerian exports fell to their lowest level this year in July, below 1.45 million bpd, thanks to outages in a couple of major streams, such as Bonny Light and Forcados.

This extended a longer-term decline that has also been fuelled by key consumers in China, India, Taiwan or Indonesia opting to take light, sweet U.S. barrels rather than Nigerian crude grades.

Source: Reuters