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Libyan Crude Oil Output Hits 1.2mbpd

OIL

Libya’s crude oil output has reached 1.2mbpd according to Libya’s National Oil Corporation.

  • In March output averaged 1.161mbpd, down by 2kbpd from February according to the OPEC Monthly Oil Market Report.
  • Since the end of August 2022, Libya has been pumping close to or even above 1.2mbpd, the level last seen before the port blockades that began in the spring of 2022.
  • Oil production capacity in Libya is expected to reach a maximum of 1.8mbpd by 2024, even if political stability prevails and clashes cease, according to a report by the African Energy Chamber.

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