Oil prices rise over Libya exports’ cuts
Oil prices rose on Wednesday, supported by a report showing a drop in U.S. crude inventories, a cut in Libyan exports and an OPEC-led deal to trim output.
U.S. commercial crude inventories fell by 1.2 million barrels in the week through Dec. 7, the U.S. Energy Information Administration reported. Analysts in a Reuters poll had expected a decrease of 3 million barrels.
Oil prices briefly pared gains after the report, but rebounded to trade roughly in line with increases prior to the data release.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to email@example.com. Please include ‘Op-Ed’ in the subject line.
- Haftar to fly to the US with family, pretending it’s a Libyan official visit - September 13, 2021
- Haftar hires ex-Clinton aide, ex-Republican leader to lobby Washington for Libya elections’ run - September 09, 2021
- Al-Saadi Gaddafi, late dictator’s son, released from Libyan prison - September 06, 2021