Key Market Indicators
Demand for Nigerian crude oil is close to 25,000 metric tons in January 2022, a 500% increase from December 2021. This is a stark increase from the 43.7% decline seen since 2007. Meanwhile, production of Nigerian crude oil is projected to drop by 1.7% between 2021 and 2026. This follows a 1.5% decline since 1976.
