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Libya’s Oil Output Steady At 1.2MBPD

OIL

Libya is producing around 1.2mbpd of oil, Oil Minister Mohamed Oun said.

  • “We hope to return to 2010 levels, which was 1.6 million bpd, within two or three years”, he added.
  • Production has been at 1.2mbpd since the start of August. In April, protesters across the country began to blockade several major ports and oil fields in Libya, causing production to fall to around 0.5mbpd by July.
  • He added that he hoped that Libya's decision to lift force majeure on oil and gas exploration, which was announced last week, would encourage foreign oil companies to return to the country.
Energy BulletsCommodities
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