Libya’s Biggest Oil Field Boosts Production, Raising the Country’s Output

1 Jun 2017   Libya

Sharara field production said to rise 25,000 barrels a day North African nation output at highest since October 2014 Libya’s biggest oil field boosted production, allowing the OPEC nation to pump crude at the highest level since October 2014. Crude from Sharara field rose by 25,000 barrels a day to 250,000 barrels, according to a person with direct knowledge of the matter who asked not to be identified because they aren’t authorized to speak to the media. Libya’s output rose to 827,000 barrels a day after the increase in output from Sharara, Mustafa Sanalla, head of the state-run National Oil Corp., said in a text message. The revival in Libyan crude production comes after the Organization of Petroleum Exporting Countries and allied suppliers agreed on May 25 to extend a deal to cut production to battle a global oversupply until the end of March. The recent increase in Libyan […]

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