Libyan Oil Output Said to Drop to Six-Month Low on Field Halt

12 Apr 2017   Libya

Production cut to 490,000 barrels a day, person familiar says Country’s biggest field Sharara stopped pumping on April 9 Libya’s oil production fell by 30 percent to the lowest level since September as the OPEC producer’s biggest field stopped pumping just one week after reopening from an earlier halt. The North African nation’s output dropped to 490,000 barrels a day from 703,000 a day after the Sharara field shut, a person familiar with the situation said, asking not to be identified because of a lack of authorization to speak to media. Sharara pumped about 213,000 barrels a day before halting on April 9, the person said. The country is currently producing at its lowest level in more than six months, data compiled by Bloomberg show. The pipeline that transports crude from Sharara in western Libya to the Zawiya refinery also stopped operating on April 9. The National Oil Corp. […]

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