Libya: Libya’s Oil Output Drops Further

Jun 6, 2014 | Joe DeCapua, Voice of America
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Libya has much of the world’s highest quality crude oil. But since the fall of long-time leader Moammar Gadhafi in 2011, production has been sporadic and on the decline.
 
After assessing Libya’s political instability, violence and armed groups battling for control, John Kingston summed up prospects for the country’s oil industry this way:
 
“There’s essentially no good news there.”
 
Kingston is director of news for Platts, which provides information on the global energy, petrochemical, metals and agriculture industries. He said during Gadhafi’s rule, Libya produced about 1.6 million barrels a day.