Iran has agreed to keep its production level below 4 million bpd, allowing it to add about 90,000 bpd to its production level. Related: Why Cheap Natural Gas Is HistoryLibya succeeded in bringing the bulk of its oil production and export capacity back on line in Fall 2016. In 2011, before the revolt toppled the government of Muammar Qaddafi, Libya produced 1.6 million bpd. Should Haftar, or forces loyal to him, attempt a move against the unsteady government in Tripoli, it could trigger greater instability in Libya, upsetting oil production. But a change in the political situation could once again disrupt Libya’s recovering oil industry, with a corresponding upward effect on oil prices.

Source: Libya Today January 25, 2017 00:11 UTC