Oil Price Sees New High of this Year

Since the beginning of this year, the light American oil and Brent oil recorded at high in the trading. But it didn’t affect in the global oil prices. The oil prices got better when protesters halted the flows of crude oil from the Zueitina oil port in eastern Libya. It also affected the export of the country.

Zueitina and some other oil ports in Libya were still exporting oil with the coordination of other ports.  The fighting destroyed most of the oil fields and stopped the production at the time when Muammar Qaddafi was the ruler of Libya. According to a spokesman for the National Oil Corporation of the Libyan government, the protestors blocked the oil supply pipelines of the ports and these activities were made in most of the eastern Libya. Government officials said that the oil production in Libya is currently less than 500 thousand barrels per day, which is a third of its level before the year 2010.

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