Libya’s Oil Comeback Has Legs Even If Reliability Is in Doubt
- War-torn nation’s output soars as OPEC tries to curb supplies
- Country needs money, durable peace for more production gains
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Libya’s oil industry, trampled by civil war and chaos, is roaring back.
Crude output has surged to nearly 1.25 million barrels a day from almost a dead start in September, thanks to a tentative peace between rival military forces. The OPEC member is already pumping about three-fourths as much as it did before the 2011 uprising that toppled strongman Moammar Al Qaddafi and triggered the country’s political and economic collapse.