Oil and Gas Minister Mohamed Oun said in a statement to Reuters today that total oil production was about 700 thousand barrels per day without providing more details on the duration of the increase.
This statement came days after the Financial Times reported that Libya’s oil production stopped at about 700 thousand barrels per day, helping to alleviate concerns about the effects of the closure of oil terminals and ports on mass production, which Mr. Oun reconfirmed today.
The newspaper reported, based on a statement by one of the western diplomats, that what the Ministry of Oil stated last week about the decrease in production by 1.1 million barrels and the number provided is inaccurate. The same source considered that the actual production was significantly high and the decline recorded under daily production volatility was only 30 to 40% of total production.