Libya is pumping 1.28 million barrels a day, the head of the country’s National Oil Corp. said Wednesday, more than double its June level.
The production boost comes as oil prices have plummeted in recent days after Saudi Arabia opened up the spigots to make up for sanctioned Iranian oil.
Speaking to The Wall Street Journal on the sidelines of an energy conference here, NOC Chairman Mustafa Sanalla said the current level was up from 500,000 barrels a day in June. At the time, the country’s eastern ports had been shut.
Production has risen sharply in recent weeks after Mr. Sanalla negotiated the reopening of facilities blockaded by militias.