Libya’s National Oil Company (NOC) declared that the country’s oil production has dropped significantly in the week to January 24, 2020, according to Reuters.
Libya’s oil production shrank reaching 284,153 barrels per day of crude oil (bbl/d), meanwhile the production was around 1.2 million barrels per day of crude oil (mmbbl/d) during the week to January 17.
It is worth noting that since the closure of El Sharhara and El Feel oilfields, Libya’s production has been halted. With an eye on the country’s oil production rates before that, it was approximately 1.3 million barrels per day (mmbbl/d), noting that El Sharara has a production of about 300,000 bbl/d of crude oil, and El Feel produces around 70,000 bbl/d of crude oil.
Furthermore, a spokesman for Libya’s NOC said that if the Libyan exports were hindered for a longer period of time, the production will drop to around 72,000 bbl/d of oil.