Oil prices went down| MENAFN.COM

Sunday, 05 February 2023 11:10 GMT

Oil prices went down


(MENAFN) Oil prices went down in Asian trading on Tuesday following retrieval in output at Libya's largest oil field and as doubts about OPEC-led production cuts continue to drag.

Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore said, "Assuming that nothing comes from OPEC/non-OPEC's technical meeting in Abu Dhabi today, oil's near term fate will most likely be determined by the official U.S. Department of Energy inventory data tomorrow evening Asia time."

Production from Libya's 270,000 barrels-per-day (bpd) Sharara field was returning to average after a brief disruption when armed protesters broke into a control room in the coastal city of Zawiya, the National Oil Corporation (NOC) said on Monday.

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