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Production at Libya’s El Feel oilfield is restored and the force majeure on El Feel and Sharara exports is lifted, the National Oil Corporation (NOC) confirmed on Monday.

“Initial production at El Feel will be 12,000 barrels per day,” the NOC announced and said the production is expected to return full capacity within 14 days.

Market reaction

Crude oil prices continued to edge higher after this headline. As of writing, the barrel of West Texas Intermediate (WTI) was trading near $38, losing 2.5% on a daily basis. 

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