Libyan Central Bank Governor Sadiq Al-Kabir called for an immediate resumption of oil operations to shore up the economy amid an unprecedented decline in monetary reserves.
“We need to raise the production to 1.7 million barrels per day to cover the country’s spending,” Al-Kabir said at a forum that centered around a discussion on Libya’s economic situation.
Shutting down the country’s oil operations repeatedly from 2013-2020 has generated about $180 billion in losses, Al-Kabir said.
Tags Bloomberg News Agency Libya
Check Also
Saudi Arabia may Cut December Oil Prices for Asia
Top oil exporter Saudi Arabia may cut prices for most of the crude grades it …