EghtesadOnline: Oil prices fell on Wednesday, weighed down by concerns of oversupply as Libyan output improves and as U.S. gasoline inventories rose despite the peak summer driving season.
EghtesadOnline: Oil prices gained on Monday after a steep fall the session before, buoyed by expectations that a joint OPEC and non-OPEC meeting later in the day may address rising output in Nigeria and Libya, two OPEC members so far exempt from a push to cut production.
EghtesadOnline: Oil dropped to the lowest in seven months amid a revival in output from Libya and rising volumes of fuel held in floating storage.
EghtesadOnline: Oil headed for the longest run of weekly losses since August 2015 as U.S. crude stockpiles remain stubbornly high and as Libyan production climbs toward the most in four years.
EghtesadOnline: Libya’s crude production dropped to about 500,000 barrels a day, the lowest since September, as exports from the nation’s second-largest terminal at Zawiya were disrupted.
EghtesadOnline: Libya’s biggest oil field was said to stop producing, leading to a 20 percent decline in crude output from the country with Africa’s largest reserves.
EghtesadOnline: Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing.
EghtesadOnline: Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half of the year.
EghtesadOnline: Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how vulnerable OPEC’s quest to clear a global crude glut might be.
EghtesadOnline: Oil prices slipped in tepid Asian trading on Thursday, dragged down by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next few months.