Libya is producing only about 100,000-150,000 bpd of crude oil as almost all of its fields get shut down amid the latest flare-up of fighting between political factions in the war-torn country. Oil minister Mohammed Aoun said earlier in the week that the country’s oil production was down by 1.1 million barrels daily—from 1.2 million barrels daily earlier this year. Today, a spokesman for the ministry confirmed the figure, meaning that Libya is producing about a tenth of what it was producing at the beginning of the year. The conflict…
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