Libyan oil production continues its downward trajectory, plunging to 80,000 barrels per day early this week, while revenues lost since mid-January have now surpassed $4 billion.

The latest bulletin released by state-owned National Oil Corporation (NOC) paints as sorry picture of the divided country’s upstream sector, which early this year was pumping at more than 1.2 million bpd.

Continued decline

Total oil output was down to 80,510 bpd as of 13 April, with the forced restriction of hydrocarbon production causing losses of almost $4.1