Libya’s Oil Revival

Libya’s crude production has continued its recovery in spite of the ever deteriorating political situation, as output in the country’s oil heartland continues to rise.

Production stood at 725,000 b/d on 4 September, according to National Oil Corporation (NOC) spokesman Muhammad al-Harari. This represents an increase on the 650,000 b/d recorded by the state-owned NOC a week earlier.

Output had been rising since operations resumed at oil ports in the east of the country. Four key Libyan terminals had since July 2013 been occupied by militia loyal to the Political Bureau of Cyrenaica (PBC), a movement demanding wide-ranging autonomy for eastern Libya. (CONTINUED - 392 WORDS)