Tag Archives: Libya

(Bloomberg) — Oil was stable amid signs that continued coronavirus lockdowns in China are weighing on the economy, countering bullish news that protests are shutting in supplies from Libya. Most Read from Bloomberg West Texas Intermediate traded just below $107 a barrel after rallying last week by the most since early March. China reported its biggest decline in consumer spending and worst unemployment rate since the first months of the pandemic, while Shanghai reported its first deaths from… Source link

(Bloomberg) — Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country after civil war all but shut its energy industry. The OPEC member, home to Africa’s largest crude reserves, ramped up production in the past six weeks amid a truce between rival military forces. It was pumping 800,000 barrels a day last week, and the state-run National Oil Corp. said Saturday that output now exceeds the million-barrel level. That’s the first time the… Source link