Tag Archives: Libya

Iran was also treated preferentially in the original negotiations.

Libyan output had also recovered to reach an average of 990.000 b d in July. its highest level in three years. up 180.000 b d in June. according to the latest S&.P Global Platts OPEC survey.

Sharara. which was producing around 280.000 barrels per day. had been shut a week ago.

It may be a challenge for Libya to maintain its current rate of exports.

Oil production has risen amid efforts to shift excess supplies.

OPEC members Libya and Nigeria have boosted production since they were exempted from an OPEC-led deal to cut output. weighing on global prices.

Libya and Nigeria have seen a significant increase in oil production in May and June.

Supply and demand now ``show us we are on the right course`` to achieving OPEC’s goal of reducing stockpiles to their five-year average

The ministerial meeting will be preceded by a meeting of a technical committee involving all OPEC and non-OPEC members currently participating in the oil output cutting deal.

The two African countries. together with resurgent U.S. shale plays. could raise oil production by 1.6 million barrels a day this year.