Libya hits highest oil output since 2013

The Chairman of the Board of the National Oil Corporation of Libya stated that crude oil production has reached 1.44 million barrels per day, the highest level since 2013, approaching the production target of 1.5 million barrels per day set by the corporation. The sector aims to achieve this rate before the end of 2026 to support the Libyan economy and realize national renewal, amid successes in drilling new wells and signing production-sharing agreements with international companies. Libya heavily relies on oil revenues and possesses gas reserves amounting to 80 trillion cubic feet.

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