Analysis by Region - Africa - Libya
Oil production recovered markedly over the past two months, following disruptions to production in August and September due to political turmoil. A struggle for influence over the Central Bank of Libya (CBL) led to a political crisis in mid-August and a sharp drop in oil output to 540,000 barrels per day (bpd) in September from almost 1 million bpd in August. Initially, we expected the internal conflict to weigh on the oil sector until the end of Q1 2025. However, a political resolution was reached at the end of September, sparking a recovery in oil production in subsequent months. By early November, oil output levels had reached a 10-year high of 1.4 million bpd.
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