Related Articles
Forward article link
Share PDF with colleagues

Global oil output stalls on Libyan losses

Global oil production fell by 775,000 barrels a day (b/d) in August, to 91.6 million b/d, as soaring Saudi Arabian output failed to completely offset Libyan losses

 Opec crude output came in at 30.5m b/d in August, down by 260,000 b/d, according to International Energy Agency (IEA) figures. Libyan oil production fell a post-war low of 150,000 b/d at the beginning of September because of labour disputes, civil unrest and political division between the government and tribal militias. Libyan production, which was 1m b/d in July, slid to 550,000 b/d in August. Saudi Arabia’s oil production reached 10.19m b/d in August, its highest level in 32 years. Increased Saudi Arabian output is being exported to Asia, partly to replace supply losses from former Soviet Union producers cutting exports, seasonal maintenance worldwide and lower output in China due to flo

Also in this section
Peak demand and oil's long-term trap
19 January 2018
Fixating on the timing of a peak in oil demand is misplaced. Rather, the peak's significance is in shifting the paradigm, from perceived scarcity to perceived abundance. And it poses a problem for low-cost producers
The end is nigh for oil
12 January 2018
Fossil fuel merchants including oil companies are living on borrowed time, argues a new book
US energy: what to watch in 2018
3 January 2018
Oil production, trade, renewables and technology top our list of major questions facing America's energy industry heading into the new year