Libya's Oil Output Rebounds as Militias Reopen Biggest Field - News Summed Up

Libya's Oil Output Rebounds as Militias Reopen Biggest Field


In December, the group shut pipelines taking oil from Sharara, Libya’s biggest field, and others to ports. (Bloomberg) — Libya’s oil production has recovered to 1 million barrels a day after militias ended a three-week blockade of several western fields, including the nation’s biggest, according to people familiar with the matter. The shutdowns across the four fields lowered the OPEC member’s crude output by about 350,000 barrels a day. Prior to the closures, Libya’s oil sector was experiencing a period of calm. Production rose above 1 million barrels a day in late 2020 and averaged around 1.2 million in 2021.


Source: Libya Today January 11, 2022 15:25 UTC



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