Libya announces a 204% increase in oil exports in November

On Saturday the exports of Libya’s National Oil Company (NOC) rose in November by 204% over the previous month, to $700.4 million.

This still lags behind the $1.66 billion in revenue from the export of crude oil, gas and condensates, petroleum products, and petrochemicals registered in November 2019.

The NOC also declared on Friday that the country would continue to receive exemptions from OPEC output regulations, despite having made production increases for six months according to Reuters, a surprise to some analysts.

“The [OPEC] Conference welcomed the resumption of oil production by Libya and reaffirmed its exemption from the production adjustments, as the country is in desperate need of funds to overcome its commercial and social difficulties,” the NOC said in a press release.