A Libyan oil company has had to significantly reduce oil production at its fields because the hot weather has caused several turbines to stop working. The company is Agoco, a unit of the national Oil Corporation, and the decline in production amounted to some 120,000 bpd, sources wishing to remain unnamed told Bloomberg. This is only the latest production outage in the troubled North African country that has made exemplary efforts to revive its oil production after the NOC regained control over the export terminals and the fields, and settled its disputes with the Petroleum Facilities Guard. It is also the least significant one, as according to the sources, production in Agoco‚Äôs fields will return to normal in a few days. The outage does, however, highlight the uncertainty of Libyan supply, which has been hovering around 1 million barrels daily for over a year, but has failed to move […]