3 Oct 2020

JBC in the Media - The National

"Libyan oil production coming back on stream and its exports hitting the market are also partly responsible for the downward pressure on oil prices, according to some analysts.

'Libyan restarts may or may not be sustained, but there is also a renewed focus on Iran with some tanker-tracking firms reportedly seeing a strong increase in exports from the country in September,' consultancy JBC said in a report on Friday.

'We don’t doubt the possibility of some uptick in volumes, but are much more cautious about taking the possibility of higher numbers (e.g. 500,000 bpd-1m bpd) seriously without more substantial evidence at this time,' the report said."