Libya’s oil production target of 1.5 million barrels per day (bpd) by the end of 2021 depends on parliament approving the national budget quickly, Oil Minister Mohamed Oun told Reuters on Thursday. Libyan oil output crashed last year when forces allied with eastern commander Khalifa Haftar blocked exports to put pressure on the Tripoli government, but after the fighting stopped, it rebounded to about 1.3 million bpd. “Unfortunately, the adoption of the budget for the Libyan state in general and the oil sector in particular has been delayed and we do not know when it will be approved,” Oun said in an interview. “It may have an effect if we do not reach the production target because of a lack of financial means,” he […]