Oil ports in eastern Libya had reopened by Monday, ending a weekend shutdown that coincided with the first democratic elections in a generation. NATO forces last year intervened in a civil war that ended with the death of long-time leader Moammar Gadhafi, opening the door for interim leaders to chart the path to democracy. Conflict […]
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The oil market showed “slight loosening” last quarter though it’s too early to be sure that supply conditions have improved, according to the International Energy Agency while the Organization of the Petroleum Exporting Countries is “not happy” with high prices. The IEA, an adviser to 28 industrialized nations that has at times coordinated the release […]
The International Energy Agency (IEA) said Libya’s civil war increased European demand for Colombian oil, in a press report released Wednesday. According to the report, Europe accounts for 85% of Libya’s crude oil exports and was forced to look elsewhere during the civil war last year. Colombian crude oil exports to Europe reached 80 thousand […]
Libya’s crude production will return to pre-conflict levels of 1.6 million barrels a day by 2014, International Energy Agency said. “The recovery in Libyan output has exceeded expectations so far in 2011,” the Paris-based adviser said today in its monthly oil market report. Libyan output dropped to 45,000 barrels a day in August, according to […]
The International Energy Agency (IEA) stated that Libyan oil production is progressing faster than anticipated but it was unlikely to reach pre-conflict output levels before 2013. This is in contrast to official Libyan estimates which suggest oil output levels could be fully restored by June 2012.
OPEC crude production rose in October as Libyan output recovered quicker than expected and Saudi Arabia pumped more, the International Energy Agency said. Daily supply from the Organization of Petroleum Exporting Countries’ 12 members increased to 30.01 million barrels a day in October from 29.91 million in September, the Paris-based agency said today in its […]