Nigeria is facing challenges selling its crude oil, with about 20 million barrels scheduled for December and January loading still unsold as of Thursday, according to two oil traders.
Reports indicate that weak demand and increased competition from cheaper alternative supplies have affected Nigeria’s ability to place its cargoes in the global market.
Data cited by Reuters show that Angola is experiencing a similar situation, with five to six crude cargoes for December–January loading still available.
Traders and analysts told Reuters that West African crude producers are struggling to find buyers for up to 26 cargoes due to stiff competition from abundant and more affordable crude supplies from other regions.
The situation highlights growing pressure on West African oil exporters amid a crowded global market and soft demand conditions.