2023-04-19 23:30:57
The Oil Price website said that it is expected that the oil production capacity in Libya will reach a maximum of 1.8 million barrels per day by 2024.
The site talked regarding the possibility of Libyan oil production reaching 1.3 million barrels per day this year, according to its estimate.
The site indicated that the recovery of Libyan oil production began since July 2022, following the country announced the resumption of the export process, with the announcement of the end of force majeure that had existed since April 2022.
Price considered that the declaration of force majeure had severely hindered oil exports earlier, amid a dispute between the political class over who rules the country, as described.
Since the end of August 2022, oil production continues at 1.2 million barrels per day, according to what was announced by the National Oil Company.
Source: Oil Price + National Oil Corporation
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