Libya's oil output restrained
Investment is needed to boost production capacity
Oil analysts collectively raised their eyebrows in late November when news emerged from Opec that Libya had joined the organisation's production cuts, reversing its much-touted expansion plans. Previously, Libya's National Oil Corporation (NOC) had hoped to get production to 1.3m barrels a day by the end-2017, with further increases this year. Instead, the meeting's chair, Saudi energy minister Khalid al-Falih, announced that Libya, along with Nigeria, wouldn't raise output. NOC has yet to confirm or deny such a production cut, which would limit output to its current 1m b/d, but nor has it renewed talk of expansion. Until November, NOC chairman Mustafa Sanalla had resisted calls to join Opec
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
