Libya’s El Sharara field currently producing 300,000 bpd

Libya's El Sharara field is currently producing 300,000 barrels per day of oil compared to its peak output of about 340,000 bpd, Oil Minister Abdelbari Arusi said on Sunday, due to a standoff with rebel groups.

The minister said the African nation's oil production has declined to 600,000-650,000 bpd compared with a peak output of 1.6 million bpd.

But the output could bounce back once the country resolves a standoff with armed groups at its oil ports, Arusi told Reuters at a petroleum conference near Delhi.

“We have always been negotiating (with rebels) and hopefully we will come out with a peaceful solution because we don't want to use force, unless we run out of other solutions,” he said.