Libya threatens to cut oil production

06/27/2008 | Bloomberg

The chairman of Libya's National Oil Corp. threatened Thursday to cut oil production in response to a U.S. law that allows terrorism victims to seize assets of foreign governments. Libya holds the largest oil reserves in Africa and opposed Saudi Arabia's decision this week to increase output. "If they want the production capacity of OPEC to increase, they should facilitate foreign investments, not threaten with freezing their assets in the U.S.," said Shokri Ghanem.

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