Libya is a member of the Organization of Petroleum Exporting Countries (OPEC), but since the beginning of the conflict, the drop in oil production has provided an opportunity for other OPEC countries, particularly Saudi Arabia, to increase crude oil production to make up for the reduction in Libyan production. However, OPEC’s agreement in November 2016 to limit production in a bid to increase oil prices has been frustrated by Libya’s recovering oil sector.
Results for Category: Energy|Libya
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Energy in Libya