Oil Falls Despite Major Outage In Libya - News Summed Up

Oil Falls Despite Major Outage In Libya


Despite an escalation in Libya's oil war, crude prices fell on Tuesday morning as a deadly virus in China sparked fears of an economic slowdown. Venezuela’s oil production has stabilized at lower levels – at a little over 700,000 bpd – despite the ongoing sanctions. Nymex natural gas prices have plunged below $2/MMBtu, a level not seen in years. But large oil and gas companies could play a constructive role in accelerating the deployment of clean energy, the agency said. That means that spending on offshore wind could exceed that of offshore oil and gas in the next few years.


Source: Libya Today January 21, 2020 19:52 UTC



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