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Libya's Oil Poised to Hit 6-Year High After Field Restarts


Photographer: Abdullah Doma/AFP via Getty Images

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Libya’s oil output is on track this month to hit an almost six-year high after the country resumed production at its biggest field on Tuesday.

The OPEC member is pumping 1.17 million barrels of crude a day, according to Bloomberg calculations of data from several people with knowledge of field operations. This figure includes 200,000 barrels a day from the recently restarted Sharara field, with volumes from the southern Libyan reservoir expected to rise to 300,000 barrels this week.