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‘Oil below $100 very painful for Libya’

An oil price below $100 is damaging to Libya's reconstruction, Libya Oil Minister Abdulrahman Ben Yazza said on Tuesday.

“I am afraid of this fall, anything below $100 is very painful for Libya,” he told Reuters at an OPEC-organised oil industry conference ahead of the cartel's Thursday meeting.

Libya's Oil Minister Abdulrahman Ben Yazza attends the OPEC International Seminar in Vienna June 13, 2012. Credit: REUTERS

Benchmark Brent crude was around $97 a barrel on Tuesday, down from March peak near $128. - Reuters

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