The governor of the Libyan central bank has called for the increase of oil production to 1.7 million bpd as soon as possible as the country’s economy continues to struggle amid a seemingly never-ending civil war. “We need to raise the production to 1.7 million barrels per day to cover the country’s spending,” Sadiq Al-Kabir said, adding that production outages since 2013 had resulted in losses of some $180 billion. A lot of these losses were incurred since the start of this year, when the eastern government-affiliated LNA and associated groups blockaded Libya’s oil export terminals as the LNA tried to wrest control of the country from the Government of National Accord, which is the one recognized by the United Nations. The blockade was only lifted last month, from three terminals, and the National Oil Corporation immediately began raising oil production at the fields that feed oil into these […]