South Sudan Shuts Oil Production of 350,000 Barrels of Oil Per Day

Reuters reported that South Sudan has shut down oil production and has accused Sudan of seizing $815 million worth of crude.

As quoted in the market news:

South Sudan’s President Salva Kiir accused Khartoum of having “looted” revenues amounting to roughly $815 million and building a tie-in pipeline to divert 120,000 barrels per day of southern production flowing through the north.

Click here to read the full Reuters report.