Violence in a major oil producing country may finally halt the oil price slide.
Analysts have speculated whether the slump in oil prices would be reversed by an uptick in demand, a buying spree by investors in cheap commodities, or high-cost producers being forced out of the market. But it may be a sudden burst of violence in Libya that provides the spark to oil prices that the markets have been looking for.
Libya has experienced several waves of violence in recent years, violence that has caused periodic disruptions in Libya’s oil sector.
Prewar oil production topped 1.6 million barrels per day, a …read more
Source: Time
