Libyan Oil Output Resumption Significantly Increases OPEC Output

OPEC oil production rebounded from its lowest this year thanks to Libya resolving, even if temporarily, a political crisis over control of the Central Bank, Reuters has reported. Libyan output has fully recovered after the country’s eastern-based government and Tripoli-based National Oil Corp (NOC) announced last week the reopening of all oilfields and export terminals. Libya was pumping ~1.2 million barrels of crude per day before production at the Sharara, El Feel and Essider oilfields was halted in late August. According to oil analytics…