Libya Considers Raising Oil Output to 1.6 Mln bpd Next Year, Oil Minister Says

Representation photo: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk

Libya is considering raising its oil output to 1.6 million barrels per day next year, and 1.8 million bpd in 2027, the country's Oil Minister Khalifa Abdulsadek said on Tuesday.

"We have a mission to increase oil output to 2 million bpd in the next 5 years", the minister said at the ADIPEC energy conference in Abu Dhabi, adding that production is currently around 1.4 million bpd, reported Reuters.