Libyan oil production jumps to 1.2 million bpd

oil and gas - August 2, 2022

Oil and Gas Minister, Mohamed Aoun has said that Libyan crude oil production has returned to its levels of early April, an increase that may help calm the jittery global oil market.

Aoun explained in an interview with the American Bloomberg News Agency, that oil production jumped to 1.2 million barrels per day. This level is a milestone after production fell by more than half since mid-April.

Bloomberg considered the increase in production would not only help bring in foreign currency into the country, but could also provide some relief to oil markets suffering from short supply and rising prices that have fueled inflation around the world.

libyaobserver



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