OPEC reports indicate that Libya’s oil production stood at 1.26 million barrels per day, marking a decrease of 10,000 barrels per day compared to March, when production reached 1.27 million barrels per day.
Masoud Shriha, the plaintiff in the case against Farhat Bengdara, Chairman of the National Oil Corporation, told Sada Economic exclusively that OPEC relies on reputable consulting firms such as Wood Mackenzie, Platts, Kpler, and others for its data — firms that provide accurate information for a fee.
Shriha added that OPEC’s recent policies suggest signs of a new price war targeting non-OPEC producers, aimed at limiting their market share.
He continued: The focus is on shale oil producers, with the breakeven price in the first quarter estimated at $65 per barrel. If prices fall below $60 per barrel, it could negatively impact investment in drilling and production, potentially stabilizing production at low levels and affecting the share of the largest oil-producing and consuming country.
He also noted that some believe Saudi Arabia, as the main driver of OPEC policy, has already initiated a partial price war in East Asia against producers like Iraq and Kazakhstan to reduce their market share — a move that aligns with OPEC’s current strategy.
