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Oil Rises as Libya Fighting Flares Up Before OPEC Meets

Posted by Chris Advincula on May 31, 2016 12:06:47 AM

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(May 30 Bloomberg) Oil rose as fighting erupted near Libya's biggest crude shipping port and OPEC delegates prepared to meet this week in Vienna to assess output.

Libya's Petroleum Facilities Guard captured a town near the Es Sider and Ras Lanuf oil loading terminals after fierce clashes with Islamic State militants. Strife in Nigeria and wildfires in Canada have also disrupted output. The Organization of Petroleum Exporting Countries will discuss a possible output freeze when the group gathers June 2, said Iraq's Deputy Oil Minister Fayyad Al-Nima.

Click on the link below to see the full story from Bloomberg: (by Robert Tuttle)

Oil Rises as Libya Fighting Flares Up Before OPEC Meets

 

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Topics: Crude, commodities, US Crude oil, Fundamentals, Brent, OPEC

 

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