Turning on the Taps

When considering crude production in West Africa, it is often a first inclination to consider what is not being produced. Civil unrest and other supply disruptions, specifically in Nigeria, have been the focus of attention for several months. The reality is that as this region is becoming increasingly important for meeting global oil demand, many of the producers are stepping up to the task. Once shut-in production is being returned, new projects are coming online and freight rates have been on a general upward trend since April.