Libyan oil production to hit 900,000 bpd by December

Libyan oil production to hit 900,000 bpd by December

Oct 13, 2016
2 min read
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Oil production in the North African nation of Libya is set to hit its highest levels in three years, according to data released by Bloomberg.

The data shows that production will hit 900,000 barrels per day as early as December as a series of fields and export facilities come back online.

Libya produced as much as 1.45 million barrels per day as recently as 2013. However, the country’s hydrocarbon industry has been decimated by a lengthy series of strikes followed by a protracted civil conflict which has threatened to escalate into all out civil war.

Libya currently produces 540,000 barrels per day. Following a recent announcement by OPEC that it would freeze its production levels, questions will be asked as to how the oil cartel will accomodate a near 50 per cent increase in Libyan output.