Skip to content
Subscriber Only

Libya Oil Output at 4-Year High Loosens OPEC Grip on Supply

  • Crude production said to exceed 1 million barrels a day
  • Output is highest since June 2013, adding pressure on OPEC
Updated on

Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years, further complicating OPEC’s struggle to regain control of the oil market.

The North African country is pumping 1.005 million barrels a day, according to a person with direct knowledge of the situation, who asked not to be identified because they aren’t authorized to speak to the media. That would be the highest since June 2013, when Libya pumped 1.13 million barrels a day, according to data compiled by Bloomberg.