Petroleum Africa
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Wednesday, April 9, 2014
According to reports out of Libya, exports should be increasing substantially in the coming weeks following a partial lifting of an oil blockade at the eastern ports of Zueitina and Hariga. Two other ports held by rebel groups are expected to come back under government control in the next few weeks.
If the government is able to maintain export flows from Zueitina and Hariga and add the exports from the port at Es Sider, which is said to be within days of an agreement to lift the blockade, Libya could add about 600,000 bpd to the market.
News of this positive development helped ease oil prices down about $1 per barrel.
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