Libya’s crude output has exceeded one million barrels per day since its oil industry came back online. However, the inflow may create shockwaves in the global oil market as demand has not fully recovered from the Covid-19 crisis.
Despite facing financial difficulties, the National Oil Corporation (NOC) announced that it had managed to increase its oil production to 1,036,035 barrels per day. According to its statement released on Saturday, the current output levels may be “reduced or totally ceased” if “some entities,” which the corporation did not identify, attempt to hinder its efforts to boost production.
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