Libya’s eastern-based parliament approved a new central bank governor, ending a standoff over control of the OPEC member’s vast energy revenue and setting the stage for a full resumption of oil output.

Libya was preparing to restart oil production that has been shut since late of August after an agreement on a new head of the central bank was reached, two oilfield engineers told Reuters on Tuesday.

Crude oil enters the fourth quarter with stable quotes. The Israeli army has launched a ground operation in Lebanon. Despite the rising geopolitical risks in the Middle East, oil from Libya may soon return to the markets.

Libya’s eastern-based parliament agreed on Monday to approve the nomination of Naji Mohamed Issa Belqasem as governor of the central bank, in a move that could help end a crisis which has slashed the country's oil output.