Oil prices rise after fears of US sanctions on exporting countries.
Black gold prices rose again on Monday evening as traders feared new US sanctions against a number of major oil exporters, according to the latest trading data on global oil bourses. Oil At 22:02 Moscow time, Brent crude for June delivery rose 1.34 percent to $ 75.04 a barrel. June…
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AprOPEC sees oil markets tightening
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices. U.S. shale oil output has been booming over the past year since…
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AprLibya and Germany Meet to Increase Oil and Gas Activities.
Mustafa Sanalla, chairman of Libya’s state-run oil and gas firm NOC, met with Germany’s Ambassador to Libya, Christian Buck. During the meeting, potential paths to increase the activity of German companies in Libya was discussed. NOC said on its website that both sides had reviewed possible cooperation in the…
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AprCan Libya Boost Oil Production To 2 Million Bpd.
Libya has the largest proven oil reserves in Africa with an estimated 47.1 billion barrels in reserves. The country has also been ranked 9th in the world In terms of existing oil reserves. Despite this, Nigeria is currently the leading producer of oil in Africa. While the security situation has…
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AprLibya’s oil production hits over 1 million bpd
Libya is producing around 1.2 million barrels of oil per day (bpd) with much of it being exported abroad, primarily to Europe, citing a source in Libya’s oil industry. Libya’s oil output has been subject to fluctuations, Libya, which is a member of the Organization of the Petroleum Exporting…
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