Libya’s largest oil field is the Sharara field
- produces around 300Mbbls/d
- it was shut in April due to protests, but has restarted
Over the course of 2021 Libya produced around 1.1 to 1.2MMbbls/d. In May this dropped to below 800m a day.
The extra output coming back on line will be a relief in the tight oil market. Until the next Libyan shutdown that is (they do have a lot of these, for various reasons).
Oil has dipped back from its highs earlier in the session:
