The latest developments in the oil and gas market has strengthened the price of commodities. The best oil year's performance was recorded at the end of March, when Libya had about a third of its oil production interrupted by a group of militants in the country's largest field, Sharara.
Remember that Libya is part of the Organization of Petroleum Exporting Countries (OPEC), which is joining forces to boost the price of oil on the market to reduce its production and supply. However, due to internal conflicts Libya, the country was released by OPEC of any cutting requirement in production.
According to experts, the oil breakthrough also came before a growing expectation that large producers will maintain the recent cuts in supply during the second half of the year. And, according to the Panorama Offshore had already reported (http://migre.me/wmAiV), this expectation extension of OPEC cuts oil comes valuing over 2017.
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