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Libyan Oil Hits Milestone With Output at 1 Million Barrels a Day

  • Libya’s crude production is rising after deal to restart oil
  • Oil production has halved since mid-April on protests

Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April.

The OPEC member, home to Africa’s largest crude reserves, ramped up its production to a “little over” a million barrels a day, Oil Minister Mohamed Oun said. The increase follows an agreement with protesters and tribal heads reached more than a week ago to reopen fields and export terminals that had been largely shut since mid-April. Before the restart, production was down to 560,000 barrels a day.