Libya Oil Exports

Libya said it would have to halt exports from the Gulf of Sirte due to unrest in the region while Ecuador said it would need to suspend production amid anti-government protests

Tight supply has been aggravated by a drop in exports from Libya amid a political crisis that has hit output and ports.

Forces loyal to military strongman Khalifa Haftar on Saturday blocked oil exports from Libya's main ports, the National Oil Company said, raising the stakes on the eve of international peace talks.

A tanker carrying the first freshly produced cargo of Libyan crude to be exported since the Ras Lanuf terminal reopened in September left the port on Monday. Libya's oil production has almost doubled to around 600,000 bpd in recent weeks.

Oil prices rose by 2 per cent on Monday after Venezuela hinted that OPEC (Organization of Petroleum Exporting Countries) and other major oil producers could agree to a market support deal and as clashes in Libya disrupted attempts to boost crude exports.

Oil prices fell to roughly two-week lows on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria fuelled concerns that the global glut will persist.

Oil prices fell on Monday as the Greek debt crisis helped boost the dollar, making fuel more expensive to holders of other currencies, and as United Nations talks offered a chance for peace in Yemen where crude exporter Saudi Arabia is involved in a civil war.

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $60.39 a barrel on Monday compared to $60.47 last Friday, the organisation's secretariat said.

A fire caused by fighting at one of Libya's main export terminals has destroyed 800,000 barrels of crude - more than two days of the country's output, officials said, amid clashes between factions battling for control of the nation.

A fire caused by fighting at one of Libya's main export terminals has destroyed 800,000 barrels of crude - more than two days of the country's output, officials said, amid clashes between factions battling for control of the nation..

A rocket set a storage tank at the eastern Libyan oil of port Es Sider on fire as armed factions allied to competing governments fought for control of the country's biggest export terminal, officials from both sides said on Thursday.

A rocket hit a tank at the eastern Libyan oil port Es Sider as armed factions allied to competing governments fought over control of the country's biggest export terminal, officials said today.

Libyan state security guards have started a protest at the 120,000 barrel per day Hariga oil port in the east, halting all oil exports from the terminal, a Libyan oil official said on Saturday.

While output surges in the United States owing to oil shale extraction, exports are on the rise in Russia, Libya and Kurdistan. Also, Saudi Arabia cut prices for the fourth straight month last week to defend its market share, suggesting it is unlikely to cut production any time soon.

Brent has fallen by more than 14 per cent since hitting a year high above $115 a barrel in June, with fast-rising US output and the return of exports from Libya creating a market that looks increasingly over supplied.

Libya said it would have to halt exports from the Gulf of Sirte due to unrest in the region while Ecuador said it would need to suspend production amid anti-government protests

Tight supply has been aggravated by a drop in exports from Libya amid a political crisis that has hit output and ports.

Forces loyal to military strongman Khalifa Haftar on Saturday blocked oil exports from Libya's main ports, the National Oil Company said, raising the stakes on the eve of international peace talks.

A tanker carrying the first freshly produced cargo of Libyan crude to be exported since the Ras Lanuf terminal reopened in September left the port on Monday. Libya's oil production has almost doubled to around 600,000 bpd in recent weeks.

Oil prices rose by 2 per cent on Monday after Venezuela hinted that OPEC (Organization of Petroleum Exporting Countries) and other major oil producers could agree to a market support deal and as clashes in Libya disrupted attempts to boost crude exports.

Oil prices fell to roughly two-week lows on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria fuelled concerns that the global glut will persist.

Oil prices fell on Monday as the Greek debt crisis helped boost the dollar, making fuel more expensive to holders of other currencies, and as United Nations talks offered a chance for peace in Yemen where crude exporter Saudi Arabia is involved in a civil war.

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $60.39 a barrel on Monday compared to $60.47 last Friday, the organisation's secretariat said.

A fire caused by fighting at one of Libya's main export terminals has destroyed 800,000 barrels of crude - more than two days of the country's output, officials said, amid clashes between factions battling for control of the nation.

A fire caused by fighting at one of Libya's main export terminals has destroyed 800,000 barrels of crude - more than two days of the country's output, officials said, amid clashes between factions battling for control of the nation..

A rocket set a storage tank at the eastern Libyan oil of port Es Sider on fire as armed factions allied to competing governments fought for control of the country's biggest export terminal, officials from both sides said on Thursday.

A rocket hit a tank at the eastern Libyan oil port Es Sider as armed factions allied to competing governments fought over control of the country's biggest export terminal, officials said today.

Libyan state security guards have started a protest at the 120,000 barrel per day Hariga oil port in the east, halting all oil exports from the terminal, a Libyan oil official said on Saturday.

While output surges in the United States owing to oil shale extraction, exports are on the rise in Russia, Libya and Kurdistan. Also, Saudi Arabia cut prices for the fourth straight month last week to defend its market share, suggesting it is unlikely to cut production any time soon.

Brent has fallen by more than 14 per cent since hitting a year high above $115 a barrel in June, with fast-rising US output and the return of exports from Libya creating a market that looks increasingly over supplied.