Libya Reopens Oilfields After Banking Dispute

Libya's eastern government has announced the reopening of oilfields and facilities following a resolution of a leadership dispute over the central bank, which had significantly reduced oil production. This agreement, facilitated by the appointment of a new central bank governor, Naji Issa, aims to restore normal operations after oil production fell to less than 450,000 barrels per day from over a million in August. The closure of oilfields began on August 26 in response to political tensions between the eastern and western governments. International observers, including the UN, have welcomed this development as a critical step towards stabilizing Libya's economy and political landscape. The Egyptian government also praised the agreement, highlighting its potential for regional stability. As Libya moves forward, there is a pressing focus on ensuring transparent management of oil revenues.