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libya oil production chart

Crude Oil Production in Libya increased to 1224 BBL/D/1K in December 2020. Crude Oil Production in Libya averaged 1317.61 BBL/D/1K from 1973 until 2020, reaching an all time high of 2370 BBL/D/1K in October of 1973 and a record low of 7 BBL/D/1K in August of 2011. In 2019, the country produced around 1.23 million barrels of oil daily. In 2018, the consumption of petroleum products and crude oil in Libya was at 224.5 thousand barrels of oil equivalent, increasing compared to the previous year. The maximum level was 2370 BBL/D/1K and minimum was 7 BBL/D/1K. Oil reserves in Libya are the largest in Africa and among the ten largest globally with 46.4 billion barrels (7.38 × 10 ^ 9 m 3) as of 2010.Oil production was 1.65 million barrels per day (262 × 10 ^ 3 m 3 /d) as of 2010, giving Libya 77 years of reserves at current production rates if no new reserves were to be found. Crude Oil Production in Libya increased to 1108 BBL/D/1K in November from 453 BBL/D/1K in October of 2020. LONDON/ZUEITINA, Libya, Oct 5 (Reuters) - Libyan oil production has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd as exports ramp up, a Libyan oil source told Reuters on Monday on condition of anonymity. On the contrary, it affects future production through decreased investment in exploration and development of new fields. Libya reached the peak of 3.3 million barrels a day in 1970 and currently produces only about 1.7 million barrels of crude a day. (Bloomberg) -- Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country after civil war all but shut its energy industry. The OPEC member, home to Africa’s largest crude reserves, ramped up production in the past six weeks amid a truce between rival military forces. This page provides the latest reported value for - Libya Crude Oil Production … By May 2020, Libya’s crude oil production averaged 80,000 b/d, down from 1.2 million b/d at the end of 2019. According to NOC, only around 30 per cent of Libya has been explored for hydrocarbons, Libya wants to return production to that peak level by 2010. Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020. Libyan Oil Reserves. Libya’s crude oil production fell during the first five months of 2020 after the January closure of five export terminals in eastern Libya and the pipelines connecting the El Sharara and El Feel oilfields to those terminals. However, in the current conditions when oil price hovered above break-even price (price at which it becomes … Libya produced around 1.2 million bpd - over 1% of global production - before the blockade, which slashed the OPEC member's output to around 100,000 bpd. Data published Monthly by Organization of the Petroleum Exporting Countries. CAIRO -- The oil crisis in Libya is deepening as a blockade of the country’s vital oil fields generated losses of more than $3 billion, the national oil … Libya's National Oil Company said it expected oil production to rise to 260,000 barrels per day (bpd) next week, as the OPEC member looks to revive its oil industry, crippled by a blockade since January. The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors. This statistic shows Libya's oil production from 1998 to 2019. Slump of oil prices does not slow oil production immediately as it does with investment according to historical evidence. See Also. According to official energy statistics from the US government (EIA), Libya holds the largest oil reserves in Africa, about 41.5 billion barrels as of January 2007; and the 8th largest in the world. How much oil does Libya produce? 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