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Goldman Says Libya Oil Exports May Rise, Sees ‘Choppy’ Price

Libyan oil exports could rise by as much as 355,000 barrels a day in the short term from the opposition-controlled part of the country after rebels pledged to resume shipments, according to Goldman Sachs Group Inc.

Libya, holder of Africa’s largest oil reserves, has seen production drop from about 1.6 million barrels a day in January, before fighting started between opposition forces and troops loyal to leader Muammar Qaddafi, to 200,000 barrels in May, according to Bloomberg estimates. Libyan rebels expect to produce 100,000 barrels of oil a day from fields they control, Ali Tarhouni, the rebel finance minister, said June 9.