The outages have lifted prices with output fall in the Gulf of Mexico, the North Sea, Nigeria and Iraq.
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Global Oil Output Offline, Prices Surged
Oil prices rose on Wednesday amid global supply outages
Oil prices rose on Wednesday amid global supply outages about a million barrels daily outweighed US government data showing a build in distillate stocks.
US light sweet crude futures rose 37 cents at $46.05 a barrel on the NYMEX, while Brent crude climbed 43 cents at $43.55 a barrel on the IPE.
The outages have lifted prices with output fall in the Gulf of Mexico, the North Sea, Nigeria and Iraq.
Iraqi exports have been stymied by continued sabotage on its northern pipeline infrastructure and power problems in the south, forcing Baghdad to cut all its February-June Basra Light crude sales contracts by 10 per cent, or about 160,000 bpd.
The outages have lifted prices with output fall in the Gulf of Mexico, the North Sea, Nigeria and Iraq.
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