Predicting what Libyan crude production will be in a few months’ time can be even trickier than forecasting the oil price itself. And the risks it faces could multiply as the country – which holds the largest oil and gas reserves in Africa – moves towards critical elections in December.
Libya’s recent rise in production has confounded even the most pessimistic of analysts. In mid-September, Libyan oil production surged to more than five-year highs of 1.28 million b/d, according to Mustafa Sanalla, chairman of the state-owned National Oil Corporation.
