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Libyan Minister Expects Crude Production of 1.2mn bpd in 7-10 Days

OIL

Libya’s oil and gas minister in the Government of National Unity expects the country’s oil production to return to normal levels of 1.2mn bpd in a week to ten days.

  • "Production has reached today around 600,000 b/d. Production, maybe, I expect in a week to 10 days to return to normal levels ... of around 1.2 million b/d," Mohamed Oun said in an interview with Al Ahrar TV. "Three tankers are expected to begin exporting more than 2 million barrels."
  • Libya’s NOC forcibly underwent new management last week and swiftly announced July 15 the lifting of force majeure on all oil terminals and fields.
  • NOC said June 30 Libyan crude exports had ranged from 365,000 b/d to 409,000 b/d, a decrease of as much as 865,000 b/d from normal rates.
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