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In Libya, the country’s largest oilfield El Sharara was reported on Thursday by state oil firm NOC to be pumping at 135,000 bpd with rising output. The oilfield, which has a maximum production capacity of 315,000 bpd, has not yet reached full output yet due to technical and manpower issues, a spokesman for the NOC said.

India wants to keep buying Iranian oil at its current import level of about 300,000 bpd, amidst ongoing negotiations with the U.S. on extending a waiver on sanctions past May, Reuters reported on Thursday citing two sources in India with knowledge of the matter. The Indian government is asking to be allowed to continue buying Iranian oil at current levels of around 1.25 mil tonnes per month, or about 300,000 bpd.

U.S. President Donald Trump's special representative for Venezuela pledged on Thursday to "expand the net" of sanctions including more against banks that support Nicolas Maduro's government. "There will be more sanctions on financial institutions that are carrying out the orders of the Maduro regime," the envoy, Elliott Abrams, told a U.S. Senate subcommittee hearing. The U.S. and over 50 other countries have recognised Venezuela’s opposition leader Juan Guaido as the country’s interim president and increased pressure on Maduro to step down. This week, the Trump administration revoked the visas of senior Venezuelan officials and said on Wednesday that it had identified efforts by Maduro to work with foreign banks to move and hide money.