Libyan oil production to return to normal following resolution of dispute

Libyan Minister of Oil Mohamed Oun said Wednesday that oil production will return to normal soon in the North African country. 

In an interview with the Qatar-based Libya Al Ahrar TV, Oun said he expects Libya’s oil production to return to its “natural level” within a week or 10 days. When pressed by the presenter to provide a numerical figure, he said more than a million barrels per day. The Ministry of Oil posted the interview to its Facebook page. 

Why it matters: In April, tribes affiliated with Khalifa Hifter, who headed the National Liberation Army during the civil war, shut down oil fields and ports in eastern Libya. The tribes demanded the head of the transitional government, Prime Minister Abdul Hamid Dbeibeh, step down. The shutdown ended last week when the government appointed a new head to the National Oil Company. Libya marked the end of the controversy with a new oil export to Italy. 

Libya’s oil production fell significantly during the shutdown to less than 600,000 barrels a day. Last year, production reached 1.2 million barrels per day at times. 

Know more: The Libyan government recently denied rumors that it is considering cutting gas exports to Italy. The European country wants Libya to help the continent reduce dependence on Russian gas.