{Libya’s crude output will soon reach one million barrels a day after ports and fields reopened, a lawmaker said, adding the government is fully in control of its oil industry.}
The news comes as oil markets have been rattled by increasing production in the Organization of the Petroleum Exporting Countries.
Speaking to The Wall Street Journal Thursday, Salah al-Suhbi, a member of the foreign affairs committee at the country’s House of Representatives, said crude oil production is expected to reach a million barrels a day by the end of the month and 1.2 million barrels a day early next year. That would bring back crude output close to its normal level of about 1.5 million barrels a day and constitute a sharp rise since May, when it fell below 200,000 barrels a day.
Already the country’s crude production has already reached 810,000 barrels a day, said Mr. al-Suhbi, who has been briefed on the state of the oil industry. Crude oil production excludes condensates where Libyan output has oscillated between 50,000 and 100,000 barrels a day.
The news comes after rebels and protesters allowed shut oil fields and terminals to reopen in the summer. “The oil industry is well protected and its protection has been strengthened,” the lawmaker said.
Agencies
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