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Libya’s oil production soars to 800k bpd

Libya’s crude oil production has reached 800,000 bpd, Reuters has reported, citing sources in the know.

“This is a 100,000-bpd increase in just a few days,” the report added.

Libya started ramping up oil production in late September when warlord Khalifa Haftar agreed to a ceasefire with the Government of National Accord and lifted its blockade from oil facilities.

During the more than eight months of the blockade, Libya’s oil output slumped from over 1 million bpd to less than 100,000 bpd.

Since the lifting of the blockade, however, the National Oil Corporation has been restoring production in leaps and bounds.

Within a month, production rebounded to 500,000 bpd, with the largest field in Libya, Sharara, restarting in October.

Now, NOC seems to be on track to reach its stated target of 1 million bpd before the end of the year. 

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