A crisis which has shut down the majority of Libyan oil production for the last two months has now been resolved, as the western (NATO) half of the country backed down in a UN-mediated deal announced Monday. The agreement included a rare, unanimous (108-0) vote in the parliament, which has been polarized to the point of non-function, ever since the day in 2011 when “she” (Hillary Clinton) ‘came, saw and killed’ the country’s President, Mohamar Qadaffi.
The crisis began in August, when the western half—in an attempt to gain full control of the oil revenue of the country—forced in a new chairman of the Central Bank of Libya (CBL), which controls the oil funds. In response, the eastern half of the country, under control of the “Russia-aligned” General Kalif Haftar, shut down the oil production under their control, dropping Libya’s output from 1.2m bpd to about 450,000 bpd (figures from the Financial Times), a 62.5% cut in output. Libya is the 16th-largest producer of oil in the world, according to Wikipedia, and a member of OPEC
