Libya and Algeria see rising oil production amid energy challenges

Libya has reached a 13-year high in oil production, with crude output hitting approximately 1.44 million barrels per day in June 2026. When including condensates, total production reaches 1.49 million barrels per day. Despite this record output and gas production exceeding 73.3 billion cubic feet, the country faces a severe electricity crisis.

Frequent power outages are straining the national grid, with the General Electricity Company receiving over 15,000 complaints in a single day. Most reports originated from Tripoli. Issues include technical faults, load shedding, and cable theft. The energy shortage is compounded by fuel scarcity, which has led to long queues at gas stations and hindered the use of private generators.

Health officials have warned that approximately 2,000 vaccine doses are at risk of spoilage due to the lack of reliable power for cold storage.

In Algeria, oil production is nearing the one-million-barrel-per-day threshold, reaching approximately 995,000 barrels in July. This increase is expected to boost foreign currency revenues and support the national budget, provided global oil prices remain stable. Analysts note that the primary economic challenge remains translating increased production into sustainable growth and economic diversification.