MAST GUARDING

Libya’s Oil Output Is at Three-Year High and Rising

By Grant Smith and Laura Hurst
Libya is pumping 715,000 barrels a day of oil, the most since 2014, and is on track to keep boosting output this year as the country restores much of the production lost amid political chaos and conflict, the state oil company’s chairman said.
Blockades at the North African state’s main oil ports have ended, and output may reach 1.25 million barrels a day by the end of 2017, National Oil Corp. Chairman Mustafa Sanalla said Tuesday at a conference in London. Additional production may create a challenge for OPEC and other major suppliers that agreed to pump less crude starting Jan. 1 in an effort to end a global glut.
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Source: bloomberg.com

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