Half of Libya’s oil output shut down

Half of Libya’s oil output shut down At least half of Libya’s oil production has been shut down in the wake of the violence wracking the country, industry executives estimate.
The continuing disruption in the country, the world’s 12th largest exporter of crude, drove oil prices to a fresh 2½-year peak on Wednesday. Brent oil futures jumped 3.7 per cent to hit $110 a barrel on Wednesday for the first time since before the collapse of Lehman Brothers.
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