Oil Holds Its Breath As Presidential Election Approaches

Oil prices appear to be waiting for the presidential election before making any major moves, with prices falling due to rising Libyan oil production before climbing on positive news out of ChinaChart of the Week-    Oil production outages have increased in 2020, cutting into global supply. -    In 2020, oil disruptions have averaged 4.6 mb/d, reaching 5.2 mb/d at its deepest point in June. Outages averaged 3.1 mb/d in 2019.-    Much of the increase in outages came from Libya, Venezuela and Iran. Supply…