Commodities

OPEC Output Rises as Libya Recovers and Oil Supply Cuts Stagnate

Libya rebounds by 120,000 barrels a day on Sharara restart
Iraq and UAE continue to pump above new production quotas

The group’s output rose by 110,000 barrels a day to 26.68 million a day as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests. — The group’s output rose by 110,000 barrels a day to 26.68 million a day as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests.
Photographer: AFP/Getty Images

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By Grant Smith, Julian Lee, and Anthony Di Paola

March 1, 2024 at 4:36 PM UTC

This article is for subscribers only.

OPEC increased oil production last month as Libya restarted its biggest field, while other members faltered in the delivery of new cutbacks.

The group’s output rose by 110,000 barrels a day to 26.68 million a day, according to a Bloomberg survey, as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests.