‘Oil below $100 very painful for Libya’

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

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

Published Jun 13, 2012

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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.

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

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