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Meanwhile, Russia debates whether to ban all exports to stabilize prices.

Libya’s oil production and export terminals are operating normally after a deadly storm that killed more than 11,000 people.

There appears to be no end in sight for the current oil price rally as bullish sentiment builds and supply tightens on the back of OPEC+ cuts.

Libya’s four oil export ports reopened on Wednesday following their closure in the face of Storm Daniel, which swept through the Mediterranean, causing extensive damage in Libya’s east, where officials are reporting over 5,000 deaths.

(Bloomberg) -- Hundreds of people are feared dead in eastern Libya after the Mediterranean storm Daniel caused catastrophic flooding in major cities over the weekend, an official said.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen on a Road to NowhereTech Giants Power Stock Gains as Tesla Jumps 10%: Markets WrapMorgan Stanley Sees Dojo

Osama Hammad, was cited by local media as saying on Monday that there could be as many as 2 000 victims and thousands missing in the coastal city of Derna alone.

The situation is the very definition of a disaster, Abdel-Jaleel said.

Search efforts intensified Tuesday for thousands of people feared dead after a storm ravaged Libya’s eastern region, killing around 2,000 in one city and leaving many more missing. The health

Oil prices are set to climb even further this week due to supply disruptions in Syria and the expectation of further crude inventory draws in the U.S.

(Bloomberg) -- A frenetic search for survivors — or bodies — ensued in eastern Libya on Tuesday after a Mediterranean storm lashed the OPEC member’s shores, with dams collapsing and triggering floods that killed at least 2,300, almost all in one city. The International Red Cross said at least 10,000 more were missing.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Inv...