Libyan Crude Gushes Into Tankers as Nation's Output Accelerates
- Export flows rise to the highest in at least three years
- Libya’s return is helping to undermine OPEC output-cut deal
Refining towers and fuel storage tanks are seen at the Zawiya oil refinery near Tripoli, Libya, on Monday, Aug. 29, 2011.
Photographer: Shawn Baldwin/BloombergThis article is for subscribers only.
Libyan oil shipments are poised to hit the highest in at least three years in the latest sign the North African country is managing to sustain a production revival.
Exports are on course to reach about 715,000 barrels a day this month, the most since July 2014, when Bloomberg began monitoring Libyan shipments, tanker-tracking data show. With relatively limited capacity to process that crude in its domestic refineries, the shipments have been moving in lock-step with production.