Libya’s production has risen to its highest level in 11 years, with only 200,000 barrels per day of production left to increase before Gaddafi’s time.
“Oil production in Libya exceeds 1.4 million barrels per day, the highest since 2013,” – reports the Libyan national company National Oil Corporation (NOC).
The national company highlighted that oil and condensate production exceeded 1.4 million barrels per day this morning, December 3.
“These achievements are the result of the tireless efforts of Libyan workers in the oil fields and ports. Working 24 hours a day, they continue to increase production levels, playing a decisive role in stabilizing the country’s economy.” – NOC said in a statement.
The increase in production in Libya is one of the factors holding back oil prices, which are trading around $72-73 per barrel.
The day before, due to the conflict between two competing governments in the country, oil production in Libya was completely stopped. However, they managed to agree on a new candidacy for the presidency of the Central Bank.
During the times Muammar Gaddafiassassinated in 2011, Libya’s oil production was 1.6 million barrels per day.
