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Home Oil & Gas

Libya's Oil Blockade to Shrink Production Glut

10th August 2020
in Oil & Gas
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Libya's oil blockade is now entering its seventh month and the war-torn country's oil output is hovering at just 100,000 barrels per day (bpd) instead of the pre-crisis 1.2 million bpd.

Without a peaceful solution on the horizon, Rystad Energy is further pushing back its expected restart to the fourth quarter of 2020, a change that will help reduce the expected global production surplus to just 58.6 million barrels, or to about one-third of our previous forecast.

Click here to read the full article.

(Source: Rystad Energy)

Tags: Blockadefeaturedoil production

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