Crude hits year low on speculation Libyan output will resume

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Financial Times 13h ago

Crude hits year low on speculation Libyan output will resume - Financial Times

Quick Summary:

But there has also been speculation that the Opec cartel will delay a plan to increase production during the fourth quarter.

Some traders and analysts speculated that there was enough global supply to make up the shortfall, as demand from China has been weaker than expected.

The drop in prices came after Bloomberg reported that Sadiq al-Kabir, the central bank governor at the centre of a dispute between two rival factions, said there were “strong” indications of a compromise.