Libyan oil production has risen to 796,000b/d as the country pushes up output from the newly restarted Sharara and El Feel fields, a Libyan oil source told Reuters. The country’s oil output is at its highest since 2014.
The Sharara and El Feel fields, with a combined capacity of about 360,000b/d, resumed production at the end of April after protests that had blocked pipelines linking them to export terminals were halted.
As informed on Gulf News, the increase adds pressure on the world’s biggest producers who just signaled they may extend production cuts amid a slump in oil. Late April, the country’s output consisted of 700,000b/d, according to the Libyan National Oil Corporation’s (NOC) Board Member, Jadalla Alaokali.
Libya, alongside with Nigeria, was exempted from the agreement set by the Organization of Petroleum Exporting Countries (OPEC) to cut oil production. When the OPEC deal was reached in 2016, Libyan oil production stood at about 600,000b/d.