Browsing: OPEC

The Organization of Petroleum Exporting Countries (OPEC) has agreed to write off Libya’s accumulated debts, estimated at 20 million Libyan dinars, Libya’s Ministry of Oil and Gas announced on Monday.

Libya was ranked first among African oil producers for the month of October, with its daily production growing by about 6 thousand barrels per day to around to 1.163 million barrels of oil per day, according to the Organization of the Petroleum Exporting Countries (OPEC).

U.S. President Joe Biden is once again tapping into the country’s emergency stockpile of oil as the White House tries to prevent gasoline prices from spiking again, reducing the petroleum reserve to its lowest level in four decades, according to a report by Fox News.