Salma El Wardany

(Bloomberg) -- OPEC+ clinched a deal to pause its planned oil output hike for two months after prices plunged amid fragile demand.

Libyan factions agreed to appoint a new central bank governor, paving the way for a resolution to a row that’s sharply cut the OPEC nation’s oil output.

Libyan factions agreed to appoint a new central bank governor, paving the way for a resolution to a row that's slashed the OPEC nation's oil output.

Libya’s eastern-based parliament approved a new central bank governor, ending a standoff over control of the OPEC member’s vast energy revenue and setting the stage for a full resumption of oil output.

Libyan oil production has climbed above 1 million barrels a day for the first time in two months, after the resolution of a political standoff in the OPEC nation that had curbed output and exports.

Nigeria’s government summoned a senior Libyan diplomat to protest the treatment of its national football team during a trip to the North African country this week.

Discussions between OPEC+ members on Sunday have reached an agreement in principle to delay their December production increase, a delegate said.

OPEC+ agreed to push back its December production increase by one month, the second delay to its plans to revive supply as prices continue to struggle amid a fragile economic outlook.

Escalating tensions in the Middle East and US relations with China pose the greatest concerns for Big Oil, according to some of the industry’s top executives.

The OPEC member looks to bring back oil majors spooked by years of instability and production shutdowns.