Libya’s NOC hopes to start next year with output back at its January 2020 level of 1.2mn b/d. And then some. In an incredible turnaround for the state oil firm, crude and condensate output has picked up from 100,000 b/d for much of 2020 to about 900,000 b/d today.
Libya’s rapid return to global oil markets came after eastern-based General Khalifa Haftar lifted his nationwide oil blockade on 18 September (MEES, 25 September). With a ceasefire agreement reached between western and eastern sides last month (MEES, 23 October), cautious optimism is building that this restart could prove more lasting. Comprehensive talks are scheduled for next week in Tunis. But the road towards peace remains extremely challenging. (CONTINUED - 957 WORDS)