Thursday, February 8, 2018

Libyan oil production hits post-Gadhafi high

oil production hits post-Gadhafi high
Total oil production from Libya in January was close to 1 million barrels per day on average for its highest level in more than five years, industry data show.

Libyan oil production had faltered in the years since the downfall of the regime of Moammar Gadhafi in 2011, nearly grinding to a halt as a result of simmering civil conflict. Economists at the Organization of Petroleum Exporting Countries, of which Libya is a member, reported production last year averaged 817,000 barrels per day, far less than its pre-Gadhafi levels of around 1.5 million bpd.

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