https://arab.news/gvbmz
RIYADH: Oil production in Libya has slumped further amid blockades at crude terminals and ongoing violence in the capital city of Tripoli, according to a report published in MEED.
The report noted that export volumes in excess of 600,000 barrels a day are being blocked in the country.
Domestic news reports suggest that armed clashes are going on in Tripoli, and intense exchange of gun fires were heard from the city.
The violence in Tripoli is primarily triggered by two influential militias from western Libya; Nawasi Brigade, a militia loyal to politician Fathi Bashagha and the Stability Support Force, which backs Abdul Hamid Dbeibah.
Meanwhile, Bloomberg, quoting Libyan energy minister Mohammed Oun, reported that the ongoing political crisis in the country is leading to more shutdowns of ports.
“Almost all the oil and gas activities in the east of Libya are being shut down,” Oun told Bloomberg.
Lower oil exports from Libya could put further pressure on the global oil market, which is already struggling to meet demand.