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U.S. Calls for Immediate Resumption of Libyan Oil Production

Published in Oil Industry News on Wednesday, 22 January 2020


Graphic for News Item: U.S. Calls for Immediate Resumption of Libyan Oil Production

The U.S. embassy in Libya called Tuesday for an immediate resumption of oil production, increasing pressure on eastern strongman Khalifa Haftar, who has disrupted output in a show of defiance to world leaders pushing to end the North African country’s civil conflict.

Haftar stopped the production at virtually all of the nation’s oil fields on the eve of an international peace conference in Berlin on Sunday. Global oil prices jumped above $65 a barrel on Monday as the Libyan disruptions coincided with the shutdown of some oil output in Iraq, reigniting fears about the market’s vulnerability to geopolitical risk in key supply regions.

Libya holds Africa’s largest proven oil reserves.

Source: www.worldoil.com

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