Libyan Crude Production Hits 4-Year High

Despite the ongoing struggle for control of Libya's oil wealth (and this is probably going to go back and forth for some time to come), the country has still managed to hit a 4-year production high. Latest EIA estimates show production up by 20,000 bpd (2.1%) to 980,000 in November 2017, compared to October. Compared to the same period for last year, production is up 395,000 bpd (68%). Still, I don't see them making it past the 1 million bpd mark by the end of the year, so no effect here on OPEC numbers. 

 

 

 

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