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Commodities Briefing - Categorized | Market Moves, Oil more

Libya arrives for OPEC with exports at a trickle

Posted on 10 June 2014

Libya’s attendance at Wednesday’s OPEC meeting will be an oddity for historians of the oil exporters club - a member with virtually no oil for sale. As it struggles with its worst crisis since the 2011 war that toppled Muammar Gaddafi, early talk of a swift resumption of output have given way to pessimism, leaving OPEC with a longer lasting hole of over one million barrels per day in its supply.
Production is below 200,000 barrels per day, Oil Minister Omar Shakmak said on arrival in Vienna on Monday for the meeting, a fraction of the 1.6 million bpd Libya pumped before the 2011 conflict………………………………………..Full Article: Source


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