Oil rises as hurricane approaches but virus and supply curb gains
US companies have shut 16% of oil output due to Hurricane Zeta as Libyan output increases despite lack of demand
27 October 2020 - 12:01
London — Oil rose on Tuesday towards $41 a barrel as oil companies shut down some US Gulf of Mexico oil output due to a hurricane, though surging coronavirus infections and rising Libyan supply limited gains.
Companies including BP, Chevron and Equinor evacuated rigs, and so far producers have shut 16%, or 293,656 barrels per day (bpd) of oil output due to Hurricane Zeta...
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