Opec’s El-Badri sees swift Libyan oil return

Libyan oil production will hit 1 million barrels a day (b/d) in six months, and reach pre-war levels in less than 15, said Opec secretary general Abdalla El-Badri on Tuesday

The general secretary's statement confirmed yesterday’s production update from Petroleum Economist. He added that the country’s oil infrastructure was relatively unscathed, contrary to some media reports, and that the return of Libyan oil to the market would not dramatically affect prices because of the specific nature of the light sweet crude and the country’s long-standing customers. “There is not much damage to the oil facilities and NOC (National Oil Corporation) and the government are moving fast to come up with 1 million [b/d] in six months and go back to normal production in 15 months or less,” El-Badri told the Oil and Money conference in London. “Prices will not be affected dramatic