By Zhang MengyingInvesting.com – Oil is up on Tuesday morning in Asia over a tighter supply due to a drop in Libya’s oil export. China’s resumption of COVID-19 curbs such as partial lockdowns in Shanghai also added to worries that it might dent oil demand. Libya’s exports dropped amid a political crisis that has hit output and ports spurred worries of tightness in supply. Libya’s oil minister Mohamed Aoun said the country’s production has dropped to 100,000 barrels per day from 1.2 million bpd last year, according to Reuters. Adding to worries on the demand side, Beijing has raised fears of new lockdowns as it saw clusters of outbreaks.

Source: Libya Today June 14, 2022 04:27 UTC