Another week, another swing in Libyan crude output. This time upwards: will the gains prove any more durable than previous occasions?

Libya’s oil production has rebounded to 700,000 b/d from about 600,000 b/d earlier in March, according to the chairman of Libya’s state oil company, National Oil Corporation (NOC). The increase is largely due to the resumption of production from fields in the Sirte basin in eastern Libya.

“Our production today is 700,000 b/d and we are...