Geopolitical Tensions Exacerbate Oil Supply Concerns

Libya's national oil company NOC spokesman said Sunday that the country's crude oil output has been increased to 47 million barrels a day, as El Sharara oilfield expand production at the end of the protest.

Iraq's parliament on Sunday failed to break the political deadlock to form a new government. At this time Islamic militants have been approaching Baghdad from the capital less than 50 miles (80 kilometers). Did not produce any results after the end of the parliamentary session, and suburban Baghdad suffered bomb attacks.

A senior source in the Kurdistan regional government said on Friday that Kurdish forces had seized full control of the northern Kirkuk oilfields from the Baghdad government.

Israel does not seem like a threat on Monday called for artillery attacks on Gaza as an upgrade, although refused to accept a ceasefire agreement with the Western proposal Hamas (the Palestinian Islamic Resistance Movement).

The International Energy Agency (IEA) said on Friday, as global economic growth, global oil demand growth will accelerate again in the next year; while the United States and Canada increased supply growth will again meet these needs, and further erosion of the Petroleum Exporting Countries (OPEC) in market share. But IEA monthly report also said that certain areas still face a high risk of oil production.