Blomberg: Libya is Home to Africa's Largest Crude Reserves.

Washington, 18 October 2020(Lana) The American Bloomberg agency has said that Libya has increased its daily oil production to 500000 bpd, following restart of production. the leading energy news agency said despite the fact that the North African state is exempted from restrictions on production imposed by OPEC in May to boost prices , its production plummeted by 35% this year. The agency said Al Sharara, the country's largest oil fields pumps 110 bpd. The halt of war led to re-opening of fields and terminals in the east last month, after a closure of oil installations since January, Libya was producing 1.2 million bpd, it said. Bloomberg noted that Libya is home to Africa's largest crude reserves, and return of production will cast shadow on oil prices as restrictions increased on energy demand. =Lana=