The Minister of Oil and Gas, Mohammed Aoun, has stated that Libya is not affected by the OPEC+ decision to reduce production, adding in a statement to the Russian Sputnik Agency, “the goal of OPEC+ is to maintain oil market balance”.

Last Thursday, OPEC+ reached a preliminary agreement to a significant production cut of an additional million barrels a day, according to media reports, citing an OPEC+ representative.

On the other hand, Aoun announced that the National Oil Corporation will launch gas and oil exploration bidding round in 2024, and Russian companies can apply then.