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Oil Prices Rise on Concerns About Libyan and Brazilian Production

NEW YORK—Oil prices rose Tuesday on concerns about production in Libya and Brazil, though the continued global oversupply of crude limited price gains.

Bloomberg News reported that crude exports from Libya’s eastern port of Zueitina have been indefinitely suspended.

Libyan production has fluctuated in recent years amid ongoing violence and unrest. Exports from Zueitina were halted by protests for five months earlier this year before restarting in October. Though the country has the capacity to produce about 1.5 million barrels a day, its output stood at 432,000 barrels a day in early October.

In addition, Brazil’s biggest oil-sector union began a strike Sunday. The union represents workers on oil platforms, among other areas.

Brazil produced 2.55 million barrels a day...


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