⁍ Oil prices fell 5% on Thursday to their lowest since mid-June.

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⁍ Renewed coronavirus lockdowns will have on oil demand.

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⁍ Libya is currently producing 680,000 bpd and expects production to rise to 1 million bpd in the next few weeks.

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– Oil prices have fallen to their lowest level since mid-June as the market frets about the impact of a new respiratory illness on oil demand, Reuters reports. France and Germany have declared states of emergency as they battle a new strain of coronavirus that has sickened more than 100 people in Europe. “As lockdowns begin to bite on demand concerns across Europe, the near-term outlook for crude starts to deteriorate,” says a market strategist. “The near-term outlook for crude starts to deteriorate.”