US Oil Supplies Drop While Nigeria Sends More Oil

Last week, America's oil and fuel supplies went down, according to a government energy report. The country had 2.8 million fewer barrels of crude oil than the week before.

At the same time, the US bought more oil from Nigeria than it has in almost six years. Nigeria sent 364,000 barrels per day to America, which is much more than usual.

Why did US oil supplies drop? The country sold more oil to other countries - about 4.3 million barrels per day. Also, gas stations needed more gasoline and diesel fuel before Memorial Day weekend, when many Americans travel.

Oil prices went up a little bit after this news came out, but they were still lower than the day before. Gas supplies also fell by 2.4 million barrels.

The increase in Nigerian oil imports happened because Nigeria's biggest oil refinery had problems and was shut down for over a month, from early April to mid-May.

American oil refineries worked a bit less than the week before, processing about 162,000 fewer barrels per day. Overall, people used more gasoline last week compared to the previous week.