Libya Cannot Participate in OPEC Cuts, warns Sanalla

Libya is in such a dangerous economic situation that there is no way it can participate in OPEC production cuts for the foreseeable future, NOC chairman Mustafa Sanalla told delegates at the 8th Arab-Austrian Economic Forum in Vienna.

Sanalla said Libya's oil production had more than doubled since the lifting of force majeure at Oil Crescent ports in September‎, and that he hoped the use of blockade tactics in Libya to achieve political objectives would soon be a thing of the past.

"Libya’s oil can be a force for unity if it is allowed to flow freely ... Nearly all Libyans oppose blockades because they harm all of us.

"The important thing now is that all Libyans should benefit from increased revenues. This will be the real test of whether we can pull through our current political crisis and keep our oil flowing.‎"

The forum was attended by current and former Arab and Austrian political and business leaders.

(Source: NOC)

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