Libya continues to ramp up its oil production, and resumed last week output at the major Waha oilfield, which raised its total crude output to 580,000 barrels per day, Reuters
The Waha field is one of the key sources for the Sidra export grade, and the first Sidra grade to resume production. As of Tuesday, Waha was pumping 50,000 bpd, which is being directed to the Ras Lanuf port rather than Sidra due to limited storage capacity, the official told Reuters.
Back in August, before the ports were reopened, Galal Mohamed, head of operations at the company operating the Waha field, Waha Oil Co,
According to information by National Oil Corporation chairman Mustafa Suna’a-Allah from Monday, Libya’s oil production has reached
Since the national company
As good as this is for Libya, its continuously rising production may be yet another
OPEC’s oil production reached a
So if the cartel decides to stick to the 32.5 million bpd-33 million bpd band, it needs to collectively cut at least 600,000 bpd to 1 million bpd. And it won’t be Libya that will take an axe to its oil production.
By Tsvetana Paraskova for Oilprice.com
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