Libya’s crude oil output recovers to pre-blockade levels

Oil

Libya’s crude oil output has now increased to around 1.25M b/d, the first time that production has reached this level since January when an eight-month oil blockade was enforced by the Libyan National Army (LNA), according to Reuters reporting on a statement from Libya’s National Oil Corporation (NOC). This is up from an average of around 100K b/d in September, as operations continue to be ramped up following the lifting of force majeure on the El Feel oilfield on October 26, the last of Libya’s facilities to be brought back online since the blockade was enforced. Exports of Es Sider crude, Libya’s flagship oil stream, are also set to rise by around 71K b/d m-o-m to 258K b/d in December, according to preliminary loading programmes.