Libya Records Highest Oil Output Since 2013

TRIPOLI, June 22 (Bernama-Xinhua) -- Libya's total oil output reached about 1.49 million barrels per day (bpd) on Sunday, the highest level since 2013, the National Oil Corporation (NOC) said on Facebook, reported Xinhua.

Crude oil output hit 1.44 million bpd, while condensate output stood at 49,163 bpd, it said.

Libya depends heavily on its oil industry, which accounts for more than 90 per cent of government revenues and over 95 per cent of export earnings, according to official and international estimates.

However, production has been repeatedly disrupted in recent years due to conflict and political instability.

The NOC achieved its highest monthly revenue in 10 years this May, generating nearly US$4 billion, according to local media reports.

--BERNAMA-XINHUA