Libya’s crude oil production is back at levels last seen before the overthrow of Muammar Qaddafi with the mounting sweet oversupply in the Atlantic Basin outweighing market concerns about supply disruptions in the Middle East, especially given the fragile state of European oil demand. Air and missile strikes by US-led coalition forces last week targeted oil fields and refineries in eastern Syria in a bid to cut off funding for Islamic State militants and hamper their movement across the border with Iraq.
展开▼
