Libya’s output seen declining up to 100,000 b/d on explosion Saudis are said to see $75 prices boosting revenue 80% by 2023 A pipeline blast in Libya and a bullish budget forecast in Saudi Arabia boosted crude prices to levels not seen since mid-2015. West Texas Intermediate crude neared $60 a barrel as futures in New York and London reached the highest in more than two years. A pipeline run by Waha Oil that carries crude to Libya’s biggest export terminal exploded Tuesday, dropping the country’s output by 70,000-100,000 barrels a day. Meanwhile, Saudi Arabia is said to expect oil revenue to rise 80 percent by 2023. The blast is “certainly something of a set-back because Libya had been very steadily staying online,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund. “It’s just a reminder of the geopolitical risk premium that’s going to […]