Oil prices have remained steady amid supply concerns stemming from political turmoil in Libya and Iraq, which have disrupted production significantly. Libya's output has been halved due to a political standoff, with losses projected to reach between 900,000 and 1 million barrels per day for several weeks. Despite these supply issues, demand signals, particularly from China, appear weaker, capping potential price increases. Brent crude futures have fluctuated around $80 per barrel, influenced by stronger-than-expected U.S. economic growth data, which alleviates some demand concerns. Analysts suggest that the Organization of the Petroleum Exporting Countries (OPEC) may need to delay the phase-out of production cuts to sustain prices in the long term. As a result, while current prices are not historically high, they reflect a complex interplay of geopolitical factors and economic signals.