Wednesday, May 30, 2012

Seaway Pipeline Reversal Bad News For Nigerian Oil Sales

-- Seaway pipeline reversal will dent U.S. oil demand for Nigerian crude

-- Refinery closures on the US East Coast have already seen demand dwindle in the past year

-- India, Europe to consume excess Nigerian oil

LONDON (Dow Jones) The reversal of the Seaway oil pipeline in the U.S. last week is set to have a wide-ranging impact on the oil market, changing global trade flows as U.S. demand for oil from Nigeria--a traditional supply hub--dwindles, analysts said Monday.

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