Analysts at FGE have reported that Libya’s crude production has risen by around 200,000 bpd since the beginning of the month, now standing between 650,000 and 700,000 bpd. However, exports from western Libya are expected to remain minimal due to force majeure at the country’s two major oil fields: El Sharara, which produces 270,000 bpd, and the 70,000 bpd El Feel field.
FGE sees total Libyan crude production in the month of September between 750,000 bpd and 800,000 bpd.
With much of this stored oil now depleted, FGE expects Libya’s September exports to decline sharply. Total shipments in September will average below 700,000 bpd, the forecast shows—300,000 fewer barrels per day than the previous month, assuming the force majeure stays in place.