Nigeria may have lost its South Korean oil market to the United States (U.S.) as the Asian country buys its first crude oil from America.

Refiners in South Korea, the world’s fifth crude oil importer,  have reportedly joined India to diversify their crude sources in what potentially could impact on Nigeria’s spot crude export market.

South Korea’s largest refiner, SK Innovation, is the latest to have made its first purchase of U.S. crude after two of India’s state-run refiners, last week, placed order for over one million barrels for the first time…

Source: South Korea dumps Nigeria’s oil for U.S. – The Nation Nigeria