Libya Ups Production
Production out of OPEC member Libya has risen by 20,000 bpd since last week, reaching 290,000 bpd, according to Reuters report on Monday. On September 22, National Oil Corp (NOC) announced the lifting of force majeure at the Zueitina port and oil fields.
The country has faced many challenges over the year with fighting and blockades near oil installations around the country. Post the 2011 uprising in Libya, the country has struggled to get production up to pre-war highs, but at one point reached 1.2 million bpd of production.
NOC continues to evaluate the situation and is hoping to re-open the Ras Lanuf and Es Sider oil terminals.
Libya is not bound to any OPEC productions cuts.