Nigerian Pipeline Attacked The oil markets have suddenly been hit with a multitude of unexpected supply disruptions, the largest of which comes from the more than 1 million barrels per day that have been knocked offline because of wildfires in Canada. However, the outages in Canada are expected to be temporary – projects will restart once the fires are brought under control and oil workers can return to their sites. Nigeria, on the other hand, is suffering some oil supply outages that threaten to be a little longer lasting. It began in February when a major oil pipeline that connects to the Forcados export terminal, which exports around 250,000 barrels per day, suffered an attack from a militant group known as the Niger Delta Avengers. Shell declared force majeure on exports from the Forcados terminal. Nigeria lost the export volume, an outage that the IEA projects will cost the […]