Doubts over the scale and pace of Libyan oil production increases helped oil futures markets recover some ground. "But in the past forecasts of a quick resumption of (Libyan) oil exports have proven unfounded, so we need to wait and see." Snow, ice and very cold temperatures can limit gasoline demand and disrupt oil production and refining, but also tend to boost consumption of middle distillates such as heating oil. South Sudan's oil production remained a concern even after the government and rebels last week agreed to peace talks. Three weeks of fighting have left more than a thousand people dead and disrupted oil supply from the African country.

Source: Libya Today July 16, 2024 06:12 UTC