Although Europe is the destination for some three-quarters of Algeria’s oil exports, North America is a consistent buyer. 2) The latest OPEC oil market report is out, and it looks like Saudi Arabia has thrown in the towel in terms of targeting market share. While Libya’s recent challenges are well known, oil exports have just clambered back above 300,000 barrels per day for the first time since May of last year. According to primary sources, Saudi production has reached 10.67 million barrels per day, up ~120,000 bpd on the prior month. Hark, here are five things to consider in oil markets today:1) North Africa is home to two OPEC members, Algeria and Libya, and both are seeing signs of life from their exports.

Source: The North Africa Journal August 10, 2016 16:41 UTC