Libya Aims to Boost Oil Production to 2 Million Bpd by Early 2030s

Source Summary

Libya's National Oil Corporation chairman Masoud Suleman stated the country could raise oil production to 2 million barrels per day by the early 2030s, up from approximately 1.4 million bpd currently. A 2026 unified budget brokered with U.S. assistance allocates more than $2 billion to the NOC as an operating budget, providing what the official described as a 'lifeline' after the national oil company received no funding in the 2025 budget.