Oil Output Rallies to 700,000 bpd

A spokesman for Libya's state-owned National Oil Corporation (NOC) said on Monday that crude oil production has increased to 700,000 barrels per day (bpd), its highest level since June last year.

Production has been steadily ramping up in the past month after exports finally resumed from the eastern ports of Es Sider and Ras Lanuf, following a deal between the government and a group of rebels who had occupied them.

(Sources: Platts, Reuters)

(Oil image via Shutterstock)

No comments yet.

Leave a Reply