Libya Restarts Oil Production at Biggest Field

SourceThe Wall Street Journal
SectorOil & Gas
CountryMiddle east

Production at Libya’s largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country’s overall output after an extended shutdown and add to a glut of oil on world markets that has kept prices low. Libya’s central government and rebel commander Khalifa Haftar agreed last month to lift a nine-month oil blockade after the two sides resolved a dispute over oil revenue distribution. The country’s oil output has already increased to 300,000 barrels a day from about 100,000 barrels a day in the past two weeks. Sharara can contribute an additional 300,000 barrels a day, the officials said. Its more...