This puts pressure on OPEC and allies, known as OPEC+, to postpone a planned January 2021 supply boost, some analysts say. "Oil demand is currently not supportive," said Stephen Brennock of broker PVM. "At the bare minimum, OPEC+ will have to roll over its current production levels until the end of March. "Libya is one of the OPEC members exempted from a deal by OPEC+ to curb supply.OPEC+ made a record cut of 9.7 million bpd, or 10% of global output, from May as the pandemic destroyed demand. Exports have been slightly lower in October, the survey found.Among the OPEC members lowering output, the biggest reduction came from the United Arab Emirates, which had pumped above its quota in August.

Source: Libya Today October 31, 2020 01:43 UTC