Partial recovery in oil production capacity in Nigeria and Libya is likely to set another record high in October in OPEC’s oil output. AdvertisementOctober’s supply from OPEC excluding Gabon and Indonesia, at 32.88 million bpd, is the highest in Reuters survey records starting in 1997. In October, the increase was led by Nigeria, Libya and Iraq. Supply in Nigeria, where output had fallen due to militant attacks on oil installations, rose as exports of Qua Iboe and Forcados crude resumed. In Libya, production has been hit by port shutdowns, strikes and protests since the fall of Muammar Gaddafi in 2011.

Source: Libya Today November 02, 2016 06:57 UTC