Business News Libya

  • LONDON, Jan 17- Oil traders seem increasingly convinced OPEC's prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Saudi Arabia and its OPEC and non- OPEC allies have implemented substantial reductions in production and exports during December and the first part of January.

  • LONDON, Jan 17- Oil traders seem increasingly convinced OPEC's prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Saudi Arabia and its OPEC and non- OPEC allies have implemented substantial reductions in production and exports during December and the first part of January.

  • A file photo showing a Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    OPEC slashed production in December, delivering a bullish signal to the market one month before the producer group officially began a fresh round of output cuts.

  • *Two grades account for one fifth of Libya's production. LONDON, Jan 10- Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya's main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said. Glencore, which had exclusive rights on the two grades until the end of 2018, and Libya's...

  • BENGHAZI, Libya, Jan 6- Libya aims to more than double its oil production to 2.1 million barrels per day by 2021 provided security and stability are strengthened in the conflict-stricken country, the chairman of state oil company NOC said on Sunday in Benghazi. Currently, Libya produces 953,000 bpd, less than its pre-civil war capacity of 1.6 million bpd, Mustafa...

  • *U.S., China to hold trade talks on Jan 7-8. *OPEC supply cuts also provide oil price support. SINGAPORE, Jan 4- Oil prices rose by more than 1 percent on Friday, shaking off earlier losses, after China said it would hold talks with the U.S. government on Jan. 7-8 to look for solutions to a trade dispute between the world's two biggest economies.

  • *OPEC supply cuts also provide oil price support. SINGAPORE, Jan 4- Oil prices rose on Friday, shaking off early losses after China said it would hold talks with the U.S. government on Jan. 7-8 to look for solutions to a trade dispute between the world's two biggest economies. The firmer prices came after China's commerce ministry said it would hold vice-ministerial...

  • *U.S., China to hold trade talks on Jan 7-8. *OPEC cuts to provide oil price support- FGE. SINGAPORE, Jan 4- Oil prices edged up on Friday, shaking off previous losses after China said it would hold talks with the U.S. government on Jan. 7-8 to look for solutions to the trade disputes between the world's two biggest economies.

  • *U.S., China to hold trade talks Jan. 7-8. *OPEC cuts to provide oil price support- FGE. SINGAPORE, Jan 4- Oil prices steadied on Friday after China said it would hold talks with Washington on Jan. 7-8 aimed at solving trade disputes between the two world's biggest economies.

  • *U.S., China to hold trade talks Jan. 7-8. *OPEC cuts to provide oil price support- FGE. SINGAPORE, Jan 4- Oil prices steadied on Friday after China said it would hold talks with Washington on Jan. 7-8 aimed at solving trade disputes between the two world's biggest economies.

  • *U.S. factory activity follows Asia into downturn. SINGAPORE, Jan 4- Oil prices dropped on Friday after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. Leading economies in Asia and Europe have already reported a fall in manufacturing activity.

  • *Start of OPEC oil supply cuts provides some support. SINGAPORE, Jan 4- Oil prices fell on Friday after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. Leading economies in Asia and Europe have already reported a fall in manufacturing activity.

  • *Start of OPEC oil supply cuts provides some support. SINGAPORE, Jan 4- U.S. oil prices fell on Friday after the United States showed signs of following Asia into an economic slowdown, although crude supply withdrawals by producer club OPEC prevented prices from dropping even further. OPEC oil supply fell by 460,000 barrels per day between November and December,...

  • *OPEC oil output posts biggest drop since 2017 on Saudi move. NEW YORK, Jan 3- Oil prices rose more than one percent on Thursday in a session of volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns that slowing global economic growth could dent demand. OPEC oil supply fell in December by the largest amount in...

  • *Saudi Arabia may cut Feb heavy crude prices to Asia. *OPEC oil output posts biggest drop since 2017 on Saudi move. NEW YORK, Jan 3- Oil prices were near flat on Thursday in a session of volatile trade, pressured by concerns that slowing global economic growth could dent demand but drawing support from signs that Saudi Arabia is cutting crude output.

  • *Saudi Arabia may cut Feb heavy crude prices to Asia. *OPEC oil output posts biggest drop since 2017 on Saudi move. NEW YORK, Jan 3- Oil prices edged lower in choppy trade on Thursday, pressured by concerns about slowing global economic growth that could dent demand for crude but drawing support from signs of output cuts by Saudi Arabia.

  • *OPEC to publish details of output cut quotas. The prospect of a possible government shutdown in the United States, the world's biggest oil consumer, has added to investors' worries. "OPEC folks are not doing a good job of convincing the international oil community that they are going to be a strong advocate of their supply cut program," said Bob Yawger, director of...

  • *OPEC to publish details of output cut quotas. The prospect of a possible government shutdown in the United States, the world's biggest oil consumer, has added to investors' worries. "OPEC folks are not doing a good job of convincing the international oil community that they are going to be a strong advocate of their supply cut program," said Bob Yawger, director of...

  • *OPEC to publish details of output cut quotas. "OPEC folks are not doing a good job of convincing the international oil community that they are going to be a strong advocate of their supply cut program," said Bob Yawger, director of futures at Mizuho in New York. Brent crude fell 35 cents a barrel to $54.00 by 11:56 EDT after earlier touching $52.79 a barrel, its weakest...

  • *OPEC to publish details of output cut quotas. Brent crude fell $1.56 to a low of $52.79 a barrel, its weakest since September 2017, before rallying to trade around $53.10, down 11.9 percent on the week, by 1325 GMT. The prospect of a possible government shutdown in the United States, the world's biggest oil consumer, added to investors' worries.