Supported by production cuts in Libya and Ecuador, oil prices are up this Friday. A surge that is necessary despite the renewal by Opec+ of its marginal increase in production volume for the month of August.

Around 11:30 GMT (13:30 CET), the barrel of Brent North Sea for delivery in September, which is the first day of use as a reference contract, climbed 2.26% to 111.49 dollars. The barrel of U.S. West Texas Intermediate (WTI) for delivery in August, meanwhile, took 2.24% to 108.13 dollars.

Libya, a country with the most abundant reserves in Africa but plunged into chaos since the fall of the Gaddafi regime, is struggling to emerge from the institutional crisis. The Libyan National Oil Company (NOC) announced on Thursday evening losses of more than 3.5 billion dollars resulting from the forced closure of major oil sites since mid-April, and declared a state of "force majeure" on some facilities.