|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Vienna (UPI) Sep 10, 2014
More barrels of oil on the global market in part because of Libya are keeping oil prices lower, the Organization of Petroleum Exporting Countries said. OPEC said in its monthly market report for September crude oil production from the 12 members of the cartel increased by 231,000 barrels per day last month to average 30.35 million bpd. Iraq and Saudi Arabia were the only two member states to post a decline in oil production since the last monthly market report. Libya, meanwhile, posted in the highest gains in terms of percent. Libya in August produced an average 538,000 bpd, a 26.5 percent increase from July and more than twice what it produced in June. "An agreement to open some Libyan ports and resume exports of crude made additional barrels available on the global market and applied downward pressure on light sweet crude oil prices," OPEC said in a report published Wednesday. The Libyan government brokered a deal in April with eastern rebel leaders to re-open oil export terminals. An eight-month blockade from rebels seeking more autonomy for the region known as Cyrenaica had cut Libya's oil export potential dramatically. Last week, Libya's National Oil Co. said production has topped the August level reported by OPEC to reach 700,000 bpd.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |