Oil production returned to Libya in the middle of a civi war.  It’s one of the reasons oil prices have been tumbing.  However, an armed struggle for control of Libya’s oil fields has made production precarious.  An armed group from the rebel government in Tripoli stormed the field, but Libya’s National Oil company hopes to start production again soon.

Libya’s oil bonanza looks like the latest hope to bite the dust.  Oil prodcution was at 850,000 barrels a day in October. Now it’s down to 540,000. It’s unclear who will represent Libya when OPEC meets next month.  Not all oil is a gusher.