Libya’s central bank calls for resumption of oil output, exports

by Bloomberg Oct 06, 2020

Libyan Central Bank Governor Sadiq Al-Kabir called for an immediate resumption of oil operations to shore up the economy amid an unprecedented decline in monetary reserves.

“We need to raise the production to 1.7 million barrels per day to cover the country’s spending,” Al-Kabir said at a forum that centered around a discussion on Libya’s economic situation.

Shutting down the country’s oil operations repeatedly from 2013-2020 has generated about $180 billion in losses, Al-Kabir said.

Bloomberg

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