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Oil prices fall as word comes in that Libya has increased oil production at two key oil fields.

Top Daily News

12/16/2016

Oil prices fall as word comes in that Libya has increased oil production at two key oil fields.  Libya’s oil production has dropped steeply in the past five years after the ousting of Moammar Gadhafi in 2011, but in recent months it has been ramping back up. 

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil climbed by 12 to 510 rigs this week. That's the highest level since January.  

Treasury yields declined on Friday, retracting from multiyear highs, as demand for U.S. debt increased.