Monday, September 7, 2026
Factbox: Libya's troubled oil sector sees new revival- oil and gas 360

Factbox: Libya’s troubled oil sector sees new revival

Reuters LONDON – Libya’s oil sector, shattered by unrest since the toppling of long-time leader Muammar Gaddafi in 2011, is back on the rise. The easing of a blockade by eastern forces, which had cut output by more than 90% to around 100,000 barrels per day (bpd), has seen production recover to about 500,000 bpd. The government in Tripoli expects

oil and gas 360

Baker Hughes posts third straight quarterly loss as demand still hurt

Reuters Oilfield services provider Baker Hughes Co BKR.N reported a third straight quarterly loss on Wednesday and warned that activity may be lower next year, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services. Producers have been drilling fewer wells following a collapse in crude oil prices this year as demand for oil products has

Oil prices slip as U.S. inventory build stokes fears of supply glut- oil and gas 360

Oil prices slip as U.S. inventory build stokes fears of supply glut

Reuters LONDON – Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut and a spike in global COVID-19 cases fuelled fears of a stalled oil demand recovery. Brent crude futures LCOc1 were at $42.53 a barrel, down 63 cents, or 1.46%, as of 1349 GMT, while U.S. West Texas Intermediate (WTI)