Libya’s oil production jumps over 1 million bpd

Libyan oil production complex.

Libyan production has been increasing as a period of civil stability allows the National Oil Corporation to begin rebuilding the national oil sector.

An industry source told World Oil Friday that Libya had reached—and exceeded—1 million bpd in production for the first time in 4 years – meaning the NOC met its goal a whole month earlier than planned, OilPrice reported.

Meanwhile, OPEC oil output reached a 2017 high in June as Libya and Nigeria continue a production recovery despite the bloc’s efforts to ease a global supply glut, the results of a new Reuters survey shows.

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