Crude oil price continues to grow even as Libyan supply may return to the market

The price of crude oil has advanced from $37 above $42 in less than several days and the current price stands around $41. At its latest meeting, the OPEC agreed to extend the compensation period for overproduction till the end of December. Fundamental analysis: IEA cut its 2020 demand forecast for oil The price of crude oil advanced last week despite the fact that Libyan warlord General Khalifa Haftar said that the country will reopen oil ports closed since January. Libya could return up to 1.1 million barrels per day of production although the International Energy Agency (IEA) cut its