Libya in talks to reopen some oil ports to increase output
Once oil production rises, Libya’s National Oil Corporation (NOC) will gradually release inventories to the global market in order to avoid any decreases in oil prices. NOC is also seeking to reopen the nation’s largest and third-largest oil ports, Es Sider and Ras Lanuf, in four to five weeks.
Libya reportedly aims to increase its oil output to 1 million bpd by the end of 2016 and 2.1 million barrels a day in 2017.
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