According to industry sources, Libyan crude oil production has recovered quickly to 1.2 million bpd. Such a level was last seen before the Libyan National Army (LNA) blockaded the country’s oil infrastructures at the start of the year. The latest official statistics from Libya’s state-owned National Oil Company (NOC) showed that output had exceeded 1 million bpd as of November 7. NOC chairman Mustafa Sanalla has indicated that Libya could not participate in OPEC+ production cut deal until its output stabilizes at around 1.7 million bpd.
The last time Libya achieved such an average monthly production level was in August 2008. Tanker tracking data showed that Libya exported 489,000 bpd of crude last month, highlighting the swift recovery of its oil production. However, some analysts doubted that Libya could sustain such production levels, given the country’s fragile infrastructure and its political landscape.
