Libya Crude Floods Market Again as OPEC Fights to Restrict Flows
- Tracking shows country exporting most since at least mid-2014
- OPEC is trying to coordinate global push to curb oil supplies
Aviva's Diebel Sees Oil Moving Lower Over the Summer
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Libya’s crude shipments jumped to a new three-year high last month, dealing a fresh blow to OPEC and allied oil-producing nations as they battle to restrict a global supply surplus that’s depressing prices for the commodity.
The North African nation shipped about 865,000 barrels a day of crude in July, tanker tracking data compiled by Bloomberg show. That was a gain of 11 percent from June, which was already the highest since at least July 2014.