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Tidbits, Crude Oil, Milk Production, Urea Prices 9/1/24

Highlights


Late Saturday afternoon, three of Libya’s oilfields received instructions to resume production, engineers at the fields told Reuters. A standoff between rival political factions shut most of the country's oil fields last week. The resumption order was made by the fields' operator, the Arabian Gulf Oil Company, which did not provide any reasons, according to the engineers.


A struggle to control the Central Bank of Libya (CBL) sparked a blockade of oil production and threatened the worst crisis in years for the major crude oil exporter, long torn between rival eastern and western factions.


The eastern-based administration, which controls the oil fields that account for almost all the country's production, are demanding western authorities back down over the replacement of the CBL governor.

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