Wednesday, September 18, 2024
Iraq

Oil Jumps on 220 MBOEPD Libyan Pipeline Shutdown

Pipeline difficulties represent 20% drop in national oil output Oil prices jumped today on news of major supply disruptions in Libya, with WTI gaining 2.13% to close at $49.40/bbl. Libyan output dropped to 560 MBOEPD after one of the main pipelines in the country shut down. Mustafa Sanalla, chairman of Libya’s NOC, reported the country was producing 700 MBOEPD on March

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