Libya's central bank governor says factions are close to a deal that could restore oil production

On September 3, Libya's central bank governor Sadiq Al-Kabir said on Tuesday that there were "strong" signs that the political factions were moving closer to reaching an agreement to break the current impasse. Reconciliation between Libya's various governments would pave the way for more than 500,000 barrels of oil supply a day to return to global markets. Kabir had been tried to oust by the western government, prompting authorities in the east to cut crude oil production. While Kabir fled Libya after being threatened by armed groups, he said in an interview in Istanbul, Turkey, that he believed he would be part of any solution and was ready to return to Libya. "If they sign the agreement today, I will be back tomorrow," he said. It was unclear whether Libya's internationally recognized western government would agree to Kabir's return. Before the Aug. 26 shutdown, Libya's oil production was about 1 million barrels a day, the vast majority of which came from the east. In the past week, production has plummeted to about 450,000 barrels a day.