Traders with insider information revealed that Trafigura Group has sold 2 million barrels of WTI Midland to the Dangote refinery for delivery at the end of February, Bloomberg reported. Traders have noted that this marks the first occasion where the refinery has procured crude oil from sources outside of Nigeria. The surge in US oil supply over the past decade has reshaped the global market, extending its impact to regions as distant as Asia. This development is critical for Nigeria, Africa's largest economy, whose economy heavily relies on petroleum exports. Dangote refinery's crude supply A few weeks ago, the ... (full story)