[NEW YORK] Oil prices lost about 1 per cent on Friday as the economic recovery worldwide runs into stumbling blocks due to renewed coronavirus lockdowns and on worries about rising crude supply. Read more at The Business Times.
Libya's national oil company said it could restart oil exports after the North African country's internationally recognised government in Tripoli announced a ceasefire, putting further pressure on oil prices.
Those barrels would add to the output from Opec+, which consists of the Organization of the Petroleum Exporting Countries and allies, including Russia. That group has been focused on ensuring members that had overproduced against their commitments would cut output.
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