Libya Crude Output Highest Since 2014

Libya Crude Output Highest Since 2014Libya Crude Output Highest Since 2014

Libya's oil production has risen above 760,000 barrels per day, its highest since December 2014, the National Oil Corporation (NOC) said on Monday. Chairman Mustafa Sanalla said in a statement the NOC was working on plans to increase production further. He has previously set a goal of boosting output to 1.1 million bpd by August, Reuters reported. The NOC gave no breakdown for the latest production increase, but it is mainly due to the reopening of the major western field of Sharara last week. Sharara was producing more than 200,000 bpd before its operations were halted by pipeline blockades twice in the past two months, causing national output to drop to less than 500,000 bpd. The NOC said on Thursday that the lifting of the blockade at Sharara would also allow production to resume at the nearby El Feel field, which can pump 80,000 bpd.

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