8/15, 2:30 PM (Source: TeleTrader)
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Libya planning to increase oil production - minister

Libyan Oil Minister Mohamed Aoun stated on Monday that his country is planning to increase the production of the commodity in question.

In an interview with Libya Panorama, Aoun projected the nation needs about 10 years to reach the level of production of three million barrels per day (bpd). He said that thanks to reforms within the system, the country now produces a stable amount of 1.2 million bpd.

His comments came after the Organization of the Petroleum Exporting Countries and its partners (OPEC+) agreed to increase its production efforts by 100,000 barrels per day in September.

Baha Breaking News (BBN) / JR