Libya's oil hits record high
A recent report revealed that Nigeria imported approximately 64,500 barrels of Libyan oil per day in May 2026, totaling nearly two million barrels. This marks the first time such an import has occurred between the two countries. This development comes amid an increasing presence of Libyan oil in African markets, benefiting from supply disruptions in the Gulf region and changing global trade routes, as Nigeria becomes more heavily reliant on oil imports to meet the needs of its largest refinery, Dangote.
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