This article provides a brief background and history of the Libyan revolution. This background is helpful in understanding the current situation in Libya.

This essay, by Abdul Quader Shaikh, is published by the U.S. International Trade Administration and outlines a brief history of free trade agreements between the U.S. and the Middle East.

Another article addressing the recent destruction of Libyan oil fields, the Wall Street Journal points a more direct finger at the Islamic State. This article suggests that militant groups do not have the expertise to take advantage of the oil fields themselves,; therefore, they destroy the oil fields in an attempt to keep rival political factions from using the oil fields to their advantage.

BP has signed an $12 billion agreement to develop natural gas in Egypt. Production will start in 2017 and may result in 1.2 billion cubic feet a day of natural gas being put back into the countries natural gas grid.

Rex T. Tillerson, chief of Exxon Mobil predicts that due to slow global economic growth and higher than normal oil production, oil prices will remain low for the next two years.

The New York Times reports that eleven oilfields in Libya are not operational due "theft, looting, sabotage and destruction." The armed groups responsible remain unidentified. ISIS has allegedly beheaded Egyptian Christians in the area, but as of yet, are not taking responsibility for the oil field looting.

NPR examines the history of the 1973 oil embargo and the differences in the global oil market forty years later. The article cites Gal Luft and Anne Korin, suggesting that the U.S. policy of reducing dependence on Middle East oil is "faulty."

Several articles to date have suggested that Saudi Arabia is leery about decreasing production because of the effects of the 1973 oil crisis. This article provides a brief history of the crisis and some of the consequences and results of the crisis.

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.

Rick Ungar suggests that the president has little or no control over the global oil economy. He also suggests that

Geof Riley explains the term "spare capacity" at a macro-economic level. This brief article explores the pros and cons of producing a product "below the maximum sustainable level of production," and helps to explain why the term is so prevalent in the petroleum market.

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.