Libya’s crude production is again imperiled, but an oversupplied market doesn’t seem to mind.

Source: www.foreignpolicy.com

"Confusion over how much the country is producing is mirrored by confusion over who’s overseeing production. The rebels who took over Tripoli have their own oil minister. And though the parliament in Tobruk abolished the Oil Ministry, it put the head of the National Oil Corp. in charge of Libya’s oil. OPEC, for its part, thinks a third man is in charge. Needless to say, it’s unclear just who will represent Libya at the big OPEC meeting in Vienna this month. And it does matter: Libya holds the rotating presidency of the OPEC conference."

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