THE DAILY REPORT
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There are not many notable risk events for today Tuesday 23rd October 2018
Major Bloomberg & Reuters News
Libyan Oil Production Could Get Major Boost’
Libya’s oil production could rise by several hundred thousand barrels daily when BP and Eni resume production at a shared field, the head of the country’s state oil company told Bloomberg
Mustafa Sanalla said Libya’s current oil production was more than 1 million bpd “despite local security challenges” adding that BP and Eni planned to restart their exploratory drilling operations at a field near the Libyan border with Tunisia in the first quarter of next year. They could then fast-track production, Sanalla said
‘US Gulf Coast Crude Exports Fall As Freight Costs Surge’
U.S. Gulf Coast crude oil exports have been slowing in recent weeks, due to arbitrage constraints because of surging freight rates, S&P Global Platts reports, citing market participants’ expectations of 1.7 million bpd-1.8 million bpd of exports for November
Freight rates started to increase early in October for all ship classes, with rates trending higher due to routes delayed by weather, more lightering activities, and increased ship movement between Mexico’s east coast and the U.S. Gulf Coast
(Times In AEST)
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