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FINANCIAL NEWS
Libya’s oil production to near 1mln bpd
01 Jul 2017
(MENAFN) A Libyan oil source confirmed that oil production in the country is changing between 950,000 barrels per day and 1mln bpd, increasing from 935,000 bpd earlier this week.
Accordingly, the oil production was changing due to technical and power generation problems.
However, Libya earlier succeeded in beating a production target announced recently by a month.
As the country is a member of the Organization of the Petroleum Exporting Countries, it was exempted from OPEC-led supply cuts as it tries revive its battered oil industry.
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MENAFN0107201700450000ID1095589243
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