Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April. The OPEC member, home to Africa’s largest crude reserves, ramped up its production to a “little over” a million barrels a day, Oil Minister Mohamed Oun said. The increase follows an agreement with protesters and tribal heads reached more than a week ago to reopen fields and export terminals that had been largely shut since mid-April. Before the restart, production was down to 560,000 barrels a day. Libya has seen production plummet by about 50% in recent months due to a power struggle between rival governments, while chronic underinvestment in infrastructure also curtailed output. Higher Libyan production could offer some relief for undersupplied oil markets and high prices that have stoked inflation across the globe. Part of the deal to reopen oil […]