"Oil Prices Surge Amid Libyan Supply Disruptions and Middle East Tensions"
The Sharara oil field, a crucial asset in Libya's oil infrastructure with a capacity of 300,000 barrels per day, has been shut down by protestors demanding better services and development for the Fezzan region in Southern Libya. The Fezzan Gathering Association, representing the protestors, has stated that the field will remain closed until their demands are met. This disruption raises concerns about potential impacts on Libya's oil production, which had been on the rise since a truce in 2020, with plans to increase to 2 million barrels per day by 2030.