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Oil Prices Rising Due To Supply Disruption In Libya But Markets Are Still Weak

BAGHDAD, Oil prices on Tuesday offset some of its losses on Monday, while Libya's National Oil Corporation announced a force majeure in exports from the oil field of Sharara, which was seized by a local armed group earlier this week.

Brent crude futures rose 33 cents, or 0.6 percent, from their last close of $ 60.30 a barrel.

US crude futures also rose 19 cents, or 0.4 percent, from their last settlement to $ 51.19 a barrel.

OPEC's exporters on Friday announced a reduction of 1.2 million barrel-per-day (bpd) in crude supplies from January on the basis of October 2018 production levels.

Source: National Iraqi News Agency

Oil Prices Rising Due To Supply Disruption In Libya But Markets Are Still Weak

BAGHDAD, Oil prices on Tuesday offset some of its losses on Monday, while Libya's National Oil Corporation announced a force majeure in exports from the oil field of Sharara, which was seized by a local armed group earlier this week.

Brent crude futures rose 33 cents, or 0.6 percent, from their last close of $ 60.30 a barrel.

US crude futures also rose 19 cents, or 0.4 percent, from their last settlement to $ 51.19 a barrel.

OPEC's exporters on Friday announced a reduction of 1.2 million barrel-per-day (bpd) in crude supplies from January on the basis of October 2018 production levels.

Source: National Iraqi News Agency

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