Such purchases by the world's No.3 crude importer would boost Iran's drive to ramp up its oil shipments as it looks to regain market share following the lifting of sanctions over its disputed nuclear programme.
The newly appointed chairman of Libya’s National Oil Company, Nuri Berruien warns of a fuel crunch situation.
With the fall of Gaddafi, the end is near for the bloody rally in Libya. After six months of struggles, the rebellion finally took the fight to Tripoli over the weekend. According to Kate Dourian, the Middle East editor of Platts, it’s a little too early to say how crude will react to the Libya situation.