How Realistic Are Libya’s 2022 Oil Production Goals?

Although Libya’s crude oil production is now re-approaching the 1 million barrels per day (bpd) level, according to various industry reports, the outlook for sustained gains appears as tenuous as it has been since the removal of long-time leader, Muammar Gaddafi, in 2011, and the ensuing multi-factional civil conflict that ensued. Given the delicate supply and demand balance at play in the oil market, which is likely to remain for some time, as analysed in depth in my new book on the global oil markets, even relatively incremental additions…