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Oil slides as output rises at Libyan's largest oil field

Reuters  |  NEW YORK 

By Devika Krishna KumarNEW YORK (Reuters) - Oil prices fell as much as 2 percent on Monday on selling triggered by a rebound in production from Libya's largest oil field along with worries about higher output from OPEC and the United States.Output at Libya's Sharara field was returning to normal after a brief disruption by armed protesters in the coastal city of Zawiya, the National Oil Corporation (NOC) said. The field has boosted Libya's oil production, which climbed to more than 1 million bpd in late June.Global benchmark Brent crude futures were down 85 cents, or 1.62 percent, at $51.57 ...

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First Published: Mon, August 07 2017. 21:42 IST
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