Libyan Potential Output, Others Nudge Global Oil Prices

Oil prices fell on Monday on the potential return of output from Libya as rising corona virus cases reportedly added to worries about global demand.

Hellenic Shipping News reported yesterday that this was as a tropical storm heading for the U.S. Gulf of Mexico limited losses.

Brent crude was down 33 cents, or 0.8%, at $42.82 a barrel by 0645 GMT, while U.S. crude was down 38 cents, or 0.9%, to $40.73 a barrel. Workers at Libya’s major Sharara field have restarted operations, two engineers working there said, after National Oil Corporation announced a partial lifting of force majeure. But it was still unclear when production might

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Source: OrientEnergyReveiw

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