Libya is about to re-open the last major oil terminal that has been shut due to factions fighting in a move that would allow it to further increase oil exports, potentially putting pressure on oil prices and on fellow OPEC members that have just started cutting output in a bid to stabilize prices and speed up the drawdown of the inventory glut. Libya’s Zawiya export terminal is getting ready to restart its exports after the pipeline carrying crude to it was re-opened, Bloomberg reports, quoting an official at the National Oil Corporation (NOC). The imminent re-opening of the Zawiya export terminal means that all nine major oil ports in the country will be shipping oil. At the end of December, the NOC said that the pipelines connecting the Sharara oil field to Zawiya refinery, and the El-Feel (Elephant) oil field to the Mellitah complex, had been re-opened. The Sharara […]