Insight
Libya's oil production revival
Report summary
In recent weeks Libya's oil production has increased significantly, from around 300,000 b/d in early September to close to 600,000 b/d today. This increase is being driven by the reopening of ports in Libya's eastern Oil Crescent. The ports had been blockaded for the last two years in a dispute over payments to a militia, the Petroleum Facilities Guard (PFG), which ostensibly had been guarding the ports. Libya's production increases have occurred despite the absence of a political agreement between competing administrations and an ongoing security vacuum. Yet there are reasons to think that recent production gains can be sustained, including the widely disliked PFG's demise in the east, military success against IS in Sirte and western incentives to reverse Libya's parlous state. Libya will seek to optimise production insofar as it can. Although an OPEC member, with its production having fallen so precipitously, it won't be bound by any production restrictions.
Table of contents
- Libya's oil production revival
Tables and charts
This report includes 1 images and tables including:
- Libya's oil production revival: Image 1
What's included
This report contains:
Other reports you may be interested in
Insight
What would a second Trump presidency mean for US oil production?
There are levers that a second Trump administration would likely pull to positively affect production at the margin.
$1,350
Country Report
Brunei Darussalam upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
Country Report
Canada (British Columbia) upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650