Prices climb as Libyan output slips

摘要

Crude prices gained ground on Libyan supply disruptions and after the Russian government said it will fully comply with its obligations under a non-Opec production agreement. Atlantic basin benchmark North Sea Dated increased by $2.22/bl to $52.15/bl in the week to 30 March, while US marker May WTI climbed by $2.65/bl to $50.35/bl. The Libyan disruptions helped tighten Atlantic basin light sweet crude supplies. More than 220,000 b/d of light sweet production at the El Sharara field was shut in, leading to a declaration of force majeure at the Zawia terminal. A further 50,000 b/d of oil equivalent has been shut in at the Wafa field.