The World Bank commented on Libya’s desire to raise its oil production to 1.6 million barrels per day as being “over-optimistic”, due that this goal is often constrained by political conflicts.
The bank clarified in a report posted on its official website, Monday, that the conflict in Libya and insecurity is hindering the implementation of reforms, investment, and private sector development, pointing out that economic activities are restricted by repeated clashes over controlling the oil infrastructure.
The bank predicted that the Libyan oil production will remain at one million barrels per day on average during 2019, and around 1.1 million barrels per day for over the next few years.
