Libya intends to increase oil production

Libya plans to increase oil output to 1.4 million barrels per day by the end of 2021, the Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanalla told Bloomberg, Report informs.

According to the February OPEC report, oil production in Libya was 1.164 million barrels per day in January, which is 4.2% less than in December.

On average, the country's oil production amounted to 368,000 barrels per day in 2020 and almost 1.1 million barrels per day in 2019. Only 10 out of 13 OPEC countries participate in the OPEC + deal. Iran, Venezuela, and Libya are excluded from the deal.

The commander of the Libyan National Army (LNA), Field Marshal Khalifa Haftar, on September 18, 2020, announced the resumption of oil production and export from the ports of Libya, which had been terminated since January due to hostilities. The next day, NOC announced that it was lifting the state of emergency in the fields and ports.