Libya’s crude oil production reached 1,391,407 barrels on Saturday, reflecting an increase from 1,386,030 barrels recorded on Friday, according to the National Oil Corporation (NOC).
In a statement, the NOC reported a rise in production over the past 24 hours, with an additional 5,377 barrels of crude oil and condensates.
Gas production was recorded at 194,914 barrels of oil equivalent, contributing to a total output of 1,586,321 barrels.
International reports have highlighted Libya’s growing crude oil production as a positive indicator of the sector’s recovery, even as global oil markets continue to face uncertainty.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
