Resumption of production in Libya and the price of oil.

Libya has always been one of the largest oil producers; its reserves are estimated to be among the largest on the African continent.
Over the past few years, it was Libya that was one of the obstacles to increasing oil prices, because the country did not sign an agreement to limit production.

This is a bonus, so to speak, due to the unfavorable political and economic situation within the country.

And now another news from Libya makes OPEC countries worry again - oil production at one of the largest fields, Sharara, has been resumed since September 6, 2017.

While the market has not reacted to the news, perhaps a reaction will follow after an increase in production volumes. The increase in production is unlikely to be significant in global terms, but it is highly likely that oil prices will fall again.

Many experts say that Libya's increased production is the main obstacle preventing the price of oil from rising to $60 per barrel.

The decline will continue until a new factor appears on the market that will influence the price of oil, which could be another agreement between OPEC countries, a resumption of armed conflict in one of the producing countries, or another event related to the energy market.