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This article suggests that OPEC is losing control of global oil prices. The article addresses budget considerations for smaller OPEC producers, like Venezuela, and the battle over market share between OPEC and gulf producers.

As their sole source of income the control over oil policy and revenue proves to be a huge factor in which government will gain control over the greater Libya. Thinni, the prime minister recognized by the international community, has assured OPEC members that oil revenues are deposited into the Libyan Bank, which then transfers them to the central bank. While this may be true, OPEC members are worried that the continuation of Islamist militant aims for political autonomy through the occupation and attacks on oil ports. BPD have already become a fifth of what they maintained just one year ago. 

This article basically highlights the significance of Libyan oil fields in terms of the international community. Chaos in Libya not only affects the eastern region, but all OPEC members and importers of crude oil across the globe. After the recent attacks on Sharara, the biggest field in Libya, production has significantly slowed down. Libya's elected parliament assures the global community that they will resume normal outputs soon, but as the country deepens further into civil war, international actors remain skeptical.

A Libyan official suggests that OPEC should cut production by 800,000 bpd in order to stabilize the market in preparation for an influx of Iranian oil expected after sanctions are lifted.

This U.S. government report examines OPEC's role in setting global oil prices. Specifically, the report documents the effect of OPEC's "spare capacity" on oil prices. The report suggests that OPEC uses its spare capacity to manage oil prices on the global market.

This article briefly addresses the current global petroleum market, outlining the top national producers and their current import/export strategies. The article is a good overview of the global politcs affecting oil prices.

This article suggests that increased shale oil production is changing the economy of oil, but at the same time Saudi Arabia is reluctant to slow OPEC production.

OPEC's fact book entry on Libya.

Oil is an important aspect of the Libyan economy. Wishing to bring their oil production back to pre-war levels, The Libyan government has opted out of attending an April meeting of OPEC.

This is one likely reason the Saudis have been willing to pump oil at high levels even though that's contributing to low prices. The Saudis publicly cite a business motive, saying they want to maintain their current share of the oil market. But the Saudis are also well aware that low prices mean less money for archrival Iran.

Saudi Arabia Minister blames the recent decline in oil prices on speculators and lack of cooperation between oil leaders. They are refusing to cut down on their oil production and state "the best thing for everybody is to let the most efficient produce."

Tensions between the two Libyan government factions increase after Prime Minister Thini suggested that his internationally recognized government would sell Libyan oil independently. Thini rival, Ismail Shikri, promised military action if Thini follows through.

This article talks about the economic structure and effects of the current oil production issues between United States and the Middle East