Libya’s oil production is now at 1.211 million barrels per day (bpd), according to the country’s National Oil Corporation (NOC)—a level last seen before the port blockades that began this spring. Libya’s oil production has been recovering ever since the blockade was lifted in the middle of July. Production was over 1.2 million bpd on Sunday, NOC said in a statement carried by Reuters . Higher supply from Libya will ease upward pressures on oil prices, which have been falling in recent days amid fears of recession and expectations that a nuclear deal with Iran could be reached. If an agreement is struck, this would pave the way to 1 million bpd of oil from the Islamic Republic returning to the market. Libya’s oil production has recovered in recent weeks after the country resumed oil exports last month. The first tankers arrived in Libya to load oil for export […]