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Libya’s High Oil Production Puts Pressure on OPEC Deal

shutterstock_Libyaoil_Mar15.jpg


Libya’s oil output is steadily increasing in March, as the production from the country’s largest oil field El-Sharara resumed last week, lifting the North African nation’s total production to an estimated 6-year high.

El-Sharara oil field, which has a production capacity of around 315,000 barrel per day(bpd) according to the Libya’s National Oil Corporation (NOC).

Libya’s total oil production currently stands at around 1.17m bpd, according to Bloomberg. (Shutterstock)

© 2019 Daily News Egypt.

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