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LANA Al-Qayeb meets with a member of the French Parliament on the sidelines of the International Francophonie Scientific Week in Toulouse.
LANA The Government of National Unity discusses the final preparations for the Libyan-Italian Forum.
LANA Al-Baour meets with the German Ambassador to Libya.
LANA The Consul of the Kingdom of Morocco in Benghazi visits the headquarters of the Libyan News Agency in the city.
LANA Tebboune discusses with Al-Manfi bilateral relations and continuing coordination between the two countries.
LANA The President of the Presidential Council meets at the Council's headquarters with the Deputy Commander of the Mobile Force.
LANA Al-Manfi meets members of the Joint Military Committee, 5+5, for the Western Region.
LANA Al-Abed discusses with the Chargé d'Affairs of the Egyptian Embassy the organization of the presence of Egyptian workers in Libya and the settlement of their legal status.
LANA Al-Abed discusses with the Chargé d'Affaires of the Embassy of the Republic of India enhancing cooperation in the fields of vocational training and skills development to serve the interests of both countries.
LANA Discussing the development of Libyan-Czech relations.

Reuters: Return of Libyan oil exports reduces prices in Europe.

Pulbished on:

London, 16 October 2024 (Lana) Trading sources and analysts revealed that the resumption of Libyan crude output has led to a surplus in crude supplies in Europe, forcing competing sellers to cut their price.

According to LSEG data, the premium of Azerbaijan's Azeri Light crude to benchmark dated Brent dropped to $1.55 a barrel, the lowest since April.

Reuters quoted Sofia Priblodnaja, an analyst at FGE Energy, as saying that in the first 11 days of October, the differentials of other major Mediterranean crude grades—CPC Blend, Saharan, and Libya's own Es Sider blends—also weakened.

"Looking ahead, these Mediterranean grades will face more downside pressure from the second-largest field feeding the CPC Blend—Kashagan—returning from full shutdown due to maintenance after November 10," she added.

Prices for West African crude, also a substitute for Libyan barrels, could also weaken, a trader said. Nigerian Bonny Light was last week offered close to a premium of $1 a barrel to dated Brent and valued slightly below that, the lowest since December 2023, according to LSEG data.

=Lana=