Libya to Nearly Double Oil Output as OPEC’s Task Gets Harder

By Salma El Wardany
OPEC’s Libya plans to almost double crude production next year even as the producer group tries to implement a deal to trim production and ease a global supply glut.
The country with Africa’s largest crude reserves currently produces 600,000 barrels a day, state-run National Oil Corp. Chairman Mustafa Sanalla said in a statement posted on the company’s website. It’s seeking to boost output to 900,000 barrels a day by the end of 2016 and about 1.1 million barrels next year, he said.
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Source: bloomberg.com

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