U.S. calls for immediate resumption of Libyan oil production
DUBAI (Bloomberg) - The U.S. embassy in Libya called Tuesday for an immediate resumption of oil production, increasing pressure on eastern strongman Khalifa Haftar, who has disrupted output in a show of defiance to world leaders pushing to end the North African country鈥檚 civil conflict.
Haftar stopped the production at virtually all of the nation鈥檚 oil fields on the eve of an international peace conference in Berlin on Sunday. Global oil prices jumped above $65 a barrel on Monday as the Libyan disruptions coincided with the shutdown of some oil output in Iraq, reigniting fears about the market鈥檚 vulnerability to geopolitical risk in key supply regions.
Libya holds Africa鈥檚 largest proven oil reserves.