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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (19951)	7/8/2016 2:51:46 PM
From: Goose94	Read Replies (1) of 202400

Crude oil: *Libya could resume more exports.* Libya’s rival oil companies have promised to merge into a single National Oil Company, which could lead to a rise in oil production and exports after years of stagnation. Bloomberg reports that Libya will resume exports from two of its largest oil export terminals as early as next week. The Es Sider and Ras Lanuf – the first and third-largest oil export terminals in the country – have been closed since 2014. The nascent unified government is helping to create the political conditions for a return of some of Libya’s oil production. “The oil ports are now safe after Islamic State pulled back away from them toward Sirte,” a regional commander of Libya’s Petroleum Facilities Guard told Bloomberg. “The petroleum guards are now capable of guaranteeing the safety and security of oil tankers seeking to use the ports.” Libya has averaged 330,000 barrels per day of oil production this year, and while it is unclear how much oil could return, some Libyan officials have expressed confidence that they could double that amount in the short-term.

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