# Libya’s biggest oil field reopens, adding to OPEC’s challenges

> Libya's National Oil Corp lifted force majeure on the Sharara field, its biggest, and ordered production restarted. Sharara will initially pump 40,000 bpd and reach nearly 300,000 bpd within a week. Libyan output could double to around 600,000 bpd after a truce in the civil war.

- Date: 2020-10-12 · published 2020-10-12T12:00:00.000Z
- Category: geopolitics · region Libya · magnitude medium
- Page: https://feedsoft.ai/events/50822-libya-s-biggest-oil-field-reopens-adding-to-opec-s-challenges
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Returning Libyan supply, which is exempt from OPEC+ cuts, makes it harder for the group to tighten the market and adds bearish pressure on crude.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-06 | [Oil takes biggest daily dive in over a decade as Russia, OPEC split](https://feedsoft.ai/events/4421-oil-takes-biggest-daily-dive-in-over-a-decade-as-russia-opec-split.md) | -36.6% | -51.4% |
| BRENT | 2026-05-03 | [OPEC+ countries, including Saudi Arabia and Russia, to boost oil production \| AP News](https://feedsoft.ai/events/19149-opec-countries-including-saudi-arabia-and-russia-to-boost-oil-production-ap-news.md) | -9.5% | -14.6% |
| BRENT | 2026-02-01 | [OPEC+ agrees to keep oil output unchanged](https://feedsoft.ai/events/8797-opec-agrees-to-keep-oil-output-unchanged.md) | -3.1% | +0.6% |
| BRENT | 2020-03-09 | [U.S. shale producers rush to cut spending, output as oil prices tank](https://feedsoft.ai/events/4425-u-s-shale-producers-rush-to-cut-spending-output-as-oil-prices-tank.md) | -27.3% | -36.6% |
| BRENT | 2018-09-21 | [Oil pares gains after report OPEC, allies considering supply hike](https://feedsoft.ai/events/63204-oil-pares-gains-after-report-opec-allies-considering-supply-hike.md) | +3.5% | +1.2% |
| WTI | 2020-03-06 | [Oil takes biggest daily dive in over a decade as Russia, OPEC split](https://feedsoft.ai/events/4421-oil-takes-biggest-daily-dive-in-over-a-decade-as-russia-opec-split.md) | -31.3% | -45.0% |
| WTI | 2026-02-01 | [OPEC+ agrees to keep oil output unchanged](https://feedsoft.ai/events/8797-opec-agrees-to-keep-oil-output-unchanged.md) | -1.6% | +9.9% |
| WTI | 2020-03-09 | [U.S. shale producers rush to cut spending, output as oil prices tank](https://feedsoft.ai/events/4425-u-s-shale-producers-rush-to-cut-spending-output-as-oil-prices-tank.md) | -23.0% | -31.2% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2020/10/12/libya-s-biggest-oil-field-reopens-adding-to-opec-s-challenges

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.