Summary Box: Nigeria oil union threats shutdown

AP News
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Posted: Jan 12, 2012 10:36 AM
Summary Box: Nigeria oil union threats shutdown

OIL CUTOFF? A major union representing Nigerian oil workers said it will shut down all production Sunday as part of a nationwide strike in a country that is important to U.S. oil supplies.

REFINERY REDUCTION: Nigeria is the fifth-largest oil exporter to the United States, supplying 630,000 barrels of crude per day to American refineries.

THREAT IMPACT: It is unclear how large an effect the planned shutdown by the Petroleum and Natural Gas Senior Staff Association of Nigeria will have. Benchmark oil prices on Thursday rose above $102 a barrel on concerns about global supplies.