As Libyan crude oil exports recovered close to pre-blockade levels in October, Italy and Spain were seen as the biggest buyers.
According to Argus tracking data, Libya exported 489,000 bpd of crude last month, more than triple the September amount. Even so, it was still far behind last year’s average of more or less 1 million bpd.
Italy was the country buying most crude from the country at 140,000 bpd last month, followed by Spain’s 78,000 bpd purchase. France bought 40,000 bpd while the Netherlands, China, and Malaysia took 32,000 bpd each.
Looking ahead, Libyan crude exports are seen to increase in November as production continues to accelerate. On Thursday, state-owned National Oil Co. (NOC) said that the country’s output had reached 1.25 million bpd, roughly similar to the period prior to the onshore oil facilities’ blockades.
