The US Finance and Energy website says Libya holds the second-largest crude oil reserves in Africa.
Libya came after Africa's top oil producer, Nigeria, with 1.2 million b/d, followed by Angola, Algeria, and Egypt, respectively, with 1.1, 1.06 million, and 460 thousand b/d.
The US website said that Libya, which is recovering from the OPEC Plus agreement, is witnessing a rapid recovery compared to last year, though political instability is still impacting the country's production.
The report anticipated that Libya's production of oil would remain stable throughout 2023, with the accelerating of exploration operations and its possession of 48 billion barrels of crude oil reserves.
Economy