Libya sets new oil production record

Libya’s National Oil Corporation (NOC) said it has hit a new production high, pumping 1,386,030 barrels of crude oil and condensate daily, along with 203,017 barrels of gas equivalent (boe). That brings Libya’s total production to 1,589,047 barrels per day—a major milestone for the oil-rich nation. Last month, Libya’s National Oil Company said its crude oil production had recovered to 1.3 million barrels a day following the resolution of the political dispute over the appointment of a new governor to the Libyan central bank. This came only after crude production at most Libyan oilfields had been suspended for over a month starting in late August.