In addition, 700,000 barrels of oil per day is being prepared to be put on the market by Libya according to a report by the Financial Times.

This move is expected to ease the pressure on oil prices from concern about developments in the Middle East.

Previous stoppage orders have been lifted at “all Libyan fields and terminals,” the National Oil Corporation said in a statement.

Libya normally produces about 1.2 million barrels of crude a day, but output has fallen to less than 450,000 barrels since authorities in the east of the North African country shut down the machines in August amid conflict between western and eastern Libya over administration of the Libyan Central Bank.

The two sides had clashed over the fate and future of now-former central banker Sadiq al-Kabir.

However, at the end of September they reached an agreement which paves the way for the appointment of Naji Mohamed Isa Belkasem to the management of the Central Bank.