Oil prices fall as supply concerns ease | ZAWYA MENA Edition

Oil prices fall as supply concerns ease | ZAWYA MENA Edition

LONDON - Oil prices fell on Monday as force majeure at Libya's largest oilfield was lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta.Brent crude fell 57 cents, or 1.3%, to $42.28 a barrel by 1340 GMT and U.S. West Texas Intermediate was down 60 cents, or 1.5%, at $40.00."It's all about ending production disruptions ... (which) are not helpful in a period with ongoing demand concerns," said UBS oil analyst Giovanni Staunovo.Production in Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), is expected to rise to 355,000 barrels per day (bpd) after force majeure at the Sharara oilfield was lifted on Sunday.Rising Libyan output will pose a challenge to OPEC+ - a group comprising OPEC and allies including