Libya reopens last of its major oil fields in another blow to OPEC+

Oil drops as Libya's NOC lifts force majeure on El Feel field

Libya is set to restart the last of its major oil fields following a ceasefire in its civil war, a milestone for the Opec member that’s been largely offline since January.
 

Oil dropped after the state energy firm lifted force majeure on exports from El Feel on Monday. The move will bolster the Tripoli-based National Oil’s attempt to boost Libyan production to 1 million barrels each day within a month.
 

The return of Libyan barrels is hindering Opec+ as it tries to prop up crude prices amid a resurgence in coronavirus cases and with many major economies imposing lockdowns again.