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- Libya began to cut production at its largest oil field, Bloomberg News reported Sunday, citing three people with direct knowledge of the operations.
- Crude output at the Sharara field has fallen by 50,000 barrels a day to 210,000 barrels a day since operators received the order to make the cuts on Saturday night.
- The cause of the shutdown wasn’t immediately clear, nor was the likelihood of more cuts, Bloomberg News reported.
- The field is a venture among state oil firm the National Oil Corp., France’s Total, Spain’s Repsol (OTCQX:REPYF), Austria’s OMV (OTCPK:OMVJF) and Norway’s Equinor ASA (NYSE:EQNR).
