Is Libya’s Oil Output Set For A Steep Drop?

Libya’s National Oil Corporation has warned that the country’s crude oil production could drop sharply over the next nine months if the government in Tripoli does not release funds already approved for disbursement to NOC. Chinese Xinhua news agency quoted a statement by NOC’s chairman Mustafa Sanalla that said, “If the corporation’s allocations are not released without delay, Libyan oil production will be hundreds of thousands of barrels per day lower than it should be. That will have an extremely negative effect on national…