Libya reduce oil production by 270 thousand barrels per day

Libya announced a reduction in oil production by 270 thousand barrels per day from the first of January. Such measures a country takes in response to the decision of the member countries of OPEC.At the last meeting of oil ministers of member countries of OPEC on 17 December, it was agreed that oil production since the beginning of January 2009 should be reduced by 2.2 million barrels per day in order to maintain the price level. The National Oil Company of Abu Dhabi intends to reduce production from February next year, said Xinhua.