While oil prices responded upward this week on API data, they were also responding to events in Libya, where protests are threatening oil output ahead of hoped-for December elections, which have everything to do with who will get to control of which part of the oil industry. If you were monitoring the drama that has been unfolding over the top position at the Libyan National Oil Company (NOC) over the past 10 days, much will have become clear.
The long-serving NOC head, Mustafa Sanalla, was “suspended” by GNU Prime Minister Abdul…Oil Prices Climb As Protests Threaten Libyan Production
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