Updated commentary on last week.
A lacklustre week 35 comes to a close, where the sheer weight of excess tonnage has once again pulled this market down. The truncated week started at 30 x ws 130 ex Black Sea and ws 120 X-Med. Many thought this was the bottom of the market but, to Owners…
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SepLibya leads OPEC oil output to 2018 high despite Iranian cuts
OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to US sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month,…
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SepLibya’s Oil Production Rises
Libya’s oil production has been holding at around 1 million barrels per day for the past couple of weeks, rising slightly this week thanks to higher production at two small oilfields in the east citing sources and a spokesman for a western company. Harouge Oil Operations, a joint venture of…
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SepOPEC August oil output tops 2018 high.
OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, although a cut in Iranian shipments due to US sanctions limited the increase. The 15-member Organization of the Petroleum Exporting Countries has pumped 32.79 million barrels per day…
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SepProduction Restarting In Libya After Fields Come Back Online.
More production capacity started to come online at the Elephant oil field and the Sirte basin fields on July 13, reducing total shut-in production in Libya to 180 kb/d. Output is set to further ramp-up in the immediate days as more Eastern fields are likely to restart, including the Waha…
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