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Bloomberg: Libya’s Oil Output Reaches 500,000 b/d

Libya’s daily oil production has risen to around 500,000 barrels, according to people familiar with the situation, as the war-battered nation restarts its energy industry after a truce.

Libya’s oil exports averaged 385,000 barrels daily in the first two weeks of this month, up from 213,000 barrels a day for all of September, according to tanker-tracking data monitored by Bloomberg.

According to Bloomberg, JPMorgan Chase & Co. forecasted that Libyan output could hit 1 million barrels a day by March, though that will depend on the truce holding.

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