Markets

Libya says could double oil output within weeks after political pact

Comments from Libya national oil company Chairman Mustafa Sanalla in an interview with Bloomberg:

  • Targets 1 million barrels per day of production by year end
  • Sharara field could be quickly restarted after new govt formed
  • Restarting the field simply a matter of "opening valves"
  • "In the next days or next weeks, we will see the formation of one united national oil company

Oil has steamrolled bearish news this week but another 650K bpd can't help. He said they hope to triple production within 8 months.

A new government is slowly coming together under Fayez el-Sarraj.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos