Save for later Print Download Share LinkedIn Twitter Libya's oil output averaged 1.18 million barrels per day in the first two months of 2023. Production averaged 1.03 million b/d in 2022, down from 1.17 million b/d in 2021. Output dropped as a result of politically motivated intermittent field shutdowns and blockades by domestic political rivals of key export terminals during the first half of the year. However, blockades were lifted in the second half of July 2022 allowing production to pick up, averaging 1.14 million b/d. Although an Opec member, Libya has been exempt from Opec-plus supply cuts given earlier production constraints and is now focused on its capacity expansion plans to reach 2.1 million b/d by 2024. Production is concentrated in east Libya, home to 80% of the country's stated 48 billion barrels of reserves, Africa’s largest.
