FINANCIAL NEWS

Libya oil output steady at 600,000 bpd

23 Oct 2013

(MENAFN) The Libyan National Oil Corp (NOC) said that oil output in the country remained at 600,000 barrels per day (bpd) for a month, The Peninsula Qatar reported.

Strikes at some of the country’s major oil fields coupled with militias and political protests delivered a considerable blow to Libya’s oil production as it plunged to only 200,000 bpd.

The government made deals that ended strikes at some of the fields which helped raise production to 600,000 bpd, but still significantly below the average rate.

The North African nation is still struggling to return to normal production rates of 1.6 million bpd.

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