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OIL: Libya's Oil Workers Await News of Restart

OIL
BulletEnergy BulletsCommodities

Libya is preparing to restart oil production after an agreement was made over a new head of the central bank according to two oilfield workers speaking to Reuters on Tuesday. 

  • "We are now waiting for orders from the Corporation (the state oil firm) to resume production at its normal levels after a month-long stoppage," one of them said.
  • El Feel took advantage of the closure to conduct maintenance.
  • Numerous sources led stories suggest Libya’s oil production return is expected to be imminent, adding physical barrels back on the market and weighing on an already weak market. 
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Libya is preparing to restart oil production after an agreement was made over a new head of the central bank according to two oilfield workers speaking to Reuters on Tuesday. 

  • "We are now waiting for orders from the Corporation (the state oil firm) to resume production at its normal levels after a month-long stoppage," one of them said.
  • El Feel took advantage of the closure to conduct maintenance.
  • Numerous sources led stories suggest Libya’s oil production return is expected to be imminent, adding physical barrels back on the market and weighing on an already weak market.