Oil retreated as a further increase in Libyan output threatens to return more supply to a market that is already grappling with a pandemic-induced slump in demand.
Crude futures fell 1.9% in New York on Friday and posted their first weekly decline in three. Libya lifted force majeure on its Ras Lanuf and Es Sider ports and oil output will surpass 1 million barrels a day in four weeks, according to the state-run National Oil Corp. The announcement came as prospects for more Libyan output increas ....
26 Oct 2020
Cenkos: Oil & Gas Sector -- 88 Energy, ConocoPhillips, Pioneer Natural Resources, Wintershall Dea, FAR, Valeura Energy, BHP Group, Santos, Oil Search, Tullow Oil, Aminex
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Cenkos: Oil & Gas Sector -- 88 Energy, ConocoPhillips, Pioneer Natural Resources, Wintershall Dea, FAR, Valeura Energy, BHP Group, Santos, Oil Search, Tullow Oil, Aminex
Falcon Oil & Gas Ltd. (FOG:LON), 7.2 | 88 Energy Limited (88E:LON), 0.3 | Diversified Energy Company PLC (DEC:LON), 946 | Empyrean Energy PLC (EME:LON), 0.6 | Trinity Exploration & Production Plc (TRIN:LON), 40.0 | Barryroe Offshore Energy PLC (PVDRF:OTC), 0
- Published:
26 Oct 2020 -
Author:
James McCormack -
Pages:
6
Oil retreated as a further increase in Libyan output threatens to return more supply to a market that is already grappling with a pandemic-induced slump in demand.
Crude futures fell 1.9% in New York on Friday and posted their first weekly decline in three. Libya lifted force majeure on its Ras Lanuf and Es Sider ports and oil output will surpass 1 million barrels a day in four weeks, according to the state-run National Oil Corp. The announcement came as prospects for more Libyan output increas ....