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Angola and Nigeria hurt by US tight oil production

Oil production in the US is hurting West Africa’s Opec members, even as their own output rises

West Africa’s Opec members, Nigeria and Angola, find themselves trapped between fracturing shale rocks and a hard economic place. They are faced with the prospect of trying to sell rising crude production into an increasingly well-supplied global market, following the collapse of their exports to the US, while potentially coming under pressure to cut exports, if Opec decides more support for a weak oil price is necessary. With light, sweet crude of the type Nigeria mainly produces now readily available from US domestic producers, thanks to the shale and tight oil boom there, demand for its oil in North America has plummeted. Angola has also lost US buyers for its lighter crudes, though can s

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