May 2016, Vol. 243, No. 5

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More Glut On The Way As Libya Unblocks Exports

As Libya prepares to resume oil exports from the blockaded port of Hariga amid a month-long standoff between rival governments seeking over control of the country’s oil wealth, the global crude glut could suffer another negative jolt. Libyan oil officials have reportedly told Reuters that an agreement has been reached in Vienna that will allow for a resumption in oil exports from the eastern port of Hariga, where the eastern government and its parallel National Oil Company had blocked shipments for the past month. In a telephone interview with Bloomberg, an official in Tripoli said shipments from the port would resume within three days. For now, however, the conflict in Libya is keeping t

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