Given the fragile supply-demand balance in the global energy market and the toxic inflation-interest rate mix with which many developed economies have been struggling, news of additional oil and gas supplies is welcome. Such news came last week from Libya, in which crude oil production has averaged as high as 1.261 million barrels per day (bpd) in the past month, with its Government of National Unity (GNU) announcing the lifting of a force majeure on oil and gas exploration activities in the country. In a 5 December statement, the GNU added that…
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