The more oil a country produces, the more likely a foreign power will intervene in its internal conflicts, according to new research.
The study by the universities of Portsmouth, Warwick and Essex has found that oil is often the reason for interfering in another country’s civil war - confirming the beliefs of many conspiracy theorists.
The researchers found that the decision to interfere was dominated by the interveners’ need for oil over and above any historical, geographical or ethnic ties.
Fighter jets dispatched by Libya’s internationally recognised government bombed a Greek-owned tanker ship at an eastern city controlled by Islamist extremists, killing two crew members and wounding two, Libyan and Greek officials said.
The bombing highlights the chaos that has gripped Libya since its 2011 civil war that deposed and killed dictator Muammar Gaddafi.
Libyan officials apologised for the bombing as the Greek foreign ministry demanded compensation for the victims’ families and punishment for those behind the attack.
Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya will help ease a global supply surplus that’s driven crude into a bear market.
Brent futures rose as much as 1.6% in London. Fires have been extinguished at three of five tanks at Es Sider, Libya’s largest oil port, which were set ablaze after an attack by militants, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard.
Algerian Energy Minister Youcef Yousfi called on the Organization of Petroleum Exporting Countries to cut output to boost prices.
