Libya’s National Oil Corporation announced that it raised its crude production to just over one million barrels per day.
In a press release, the company noted that it “faces very big financial difficulties” and budget cuts have led to the “accumulation of debt” and delayed salaries for service companies.
Although the news is positive, the company displayed caution, writing that it “may not be able to sustain the current production levels” if people continued to hinder production efforts.
The company has reported multiple attempts to sabotage production, leading to shortages and even a complete halt to oil production out of Libya, in an atmosphere of political turbulence.
