Nigeria ranks 7th among Europe’s crude oil suppliers, peaking at 0.54 million barrels per day

Key takeaways

  • The USA leads the suppliers with 1.40 million barrels/day, making it the largest single contributor to the EU’s crude oil imports in 2024.
  • Norway and Kazakhstan follow closely, delivering 1.10M and 1.05M b/d respectively, together accounting for over 24% of the EU’s total imports.
  • Nigeria ranks 7th, contributing 0.54M b/d, which is 5.9% of total EU crude oil imports, ahead of Brazil and the UK.
  • The top 6 suppliers (USA to Iraq) delivered 5.45 million b/d in total, representing nearly 60% of the EU’s crude oil demand.
  • The rest of the world, not listed among the top 10, contributed 2.24M b/d, underscoring the EU’s diversified sourcing strategy.

In 2024, the EU imported a total of 9.1 million barrels of crude oil per day, drawing heavily from a mix of Western allies and strategic global partners. The United States emerged as the dominant supplier, with 1.40M b/d, highlighting transatlantic energy ties. Norway and Kazakhstan solidified their roles as key regional contributors, combining for over 2.15M b/d and reinforcing Europe’s reliance on politically stable sources.

Nigeria, ranked 7th, supplied 0.54M b/d, affirming its strategic importance as a West African oil hub. Despite not leading, its consistent output places it ahead of major economies like Brazil and the UK. Beyond these top contributors, over 2.24M b/d came from other global sources, proving the EU’s ongoing commitment to supply chain diversity and energy security amidst global volatility.

Source:

Eurostat

Period:

2024
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