Libya’s oil production rose by 3,000 barrels per day (bpd) to 1.186 million bpd on Thursday, according to the National Oil Corporation (NOC), as the African OPEC member exempted from the OPEC+ deal has seen a recovery in output over the past month. Still, Libya continues to be a wild card on the oil market, despite the stabilization of its oil production over the past month. Libya’s oil production has recovered in recent weeks after the country resumed oil exports in July. The force majeure severely crippled Libya’s oil exports, following weeks of protests and closures amid the new rift in Libya’s political class over who should be governing the country. The National Oil Corporation said in mid-July that it planned to see oil output rates recover to 1.2 million bpd in less than a month.

Source: Libya Today September 23, 2022 10:00 UTC