Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The latest survey conducted by Reuters showed that the oil production in the month of October increased by 70,000 barrels per day in Libya to 1 million barrels per day. However, that seems to be short-lived as production has once again reportedly gone down amid protest.
According to a new report by Reuters, the Sara oilfield has dropped production by 50,000 barrels per day due to ongoing protests in the area. Libya’s National Oil Company (NOC) has expressed deep concern with the development. Libya has been the major contributor to OPEC’s production increase this year. However, the production has been disrupted several times due to protests and militant attacks. An attack in August took down 30 percent of Libya’s oil production for a little more than a week.
Libya’s struggling oil production is once again likely to earn sympathy among OPEC colleagues and the country is likely to get an extended exemption when the OPEC leaders meet in Vienna later this month to decide on the future of the current production agreement.
Oil price remains upbeat rising on OPEC optimism. Brent is currently trading at $60.8 per barrel and WTI at $6.1 per barrel discount to Brent.
