(Bloomberg) -- Oil steadied, as the restart of production at OPEC member Libya’s largest field countered concerns about tensions in the Red Sea that look set to keep disrupting shipping. Libya’s National Oil Corp. said that flows from Sharara — which previously pumped about 270,000 barrels a day — would resume after a three-week stoppage. The incident puts a spotlight back on Russian flows as Moscow’s war in Ukraine approaches the two-year mark. Last week, the International Energy Agency highlighted gains in production outside the Organization of Petroleum Exporting Countries, with demand growth seen slowing. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.

Source: Libya Today January 22, 2024 06:32 UTC