Libya’s oil production declined on Friday by about 6000 barrels per day from the production on Wednesday and Thursday, as the National Oil Corporation (NOC) said the crude oil production rates amounted to one million and 207 thousand barrels, while the production of condensate reached 52 thousand barrels.
The Corporation had announced that its daily production on Wednesday and Thursday amounted to one million and 213 thousand barrels per day.
This comes while Brent crude futures closed on Friday at $96.72 a barrel, up 13 cents.
US West Texas Intermediate crude closed up 27 cents at $90.77. Both benchmarks fell about 1.5 percent over the course of the week.
Oil jumped briefly in volatile trading on the back of comments from the Federal Reserve Chairman, in Richmond, Thomas Barkin, who said that the drive to raise interest rates also needs to be balanced with the impact of raising interest rates on the economy.
But crude oil pared its gains as investors returned to concerns about upcoming interest rate hikes.