Libyan Oil Returns to Global Markets

Libyan oil is returning to global markets following the reopening over the weekend of the Eastern oil port of Hariga, after protests by guards over wages arrears came to an end.

Speaking to The Wall Street Journal, a spokesman for state-owned National Oil Corporation (NOC) said a tanker with a capacity of 350,000 barrels destined for Europe has finished loading and a second will follow soon.

Following the resumption of production at two fields, the country's oil production now stands at 270,000 bpd, up from about 150,000 bpd at the end of May, though still a fraction of normal output of 1.6 million bpd.

(Source: The Wall Street Journal)

(Oil image via Shutterstock)

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