Warning Signs Grow for Libyan Oil Production
Sep 27, 2019 | 09:30 GMT
(ABDULLAH DOMA/AFP/Getty Images)
- Any attempt by the National Oil Corporation to further restrict supplies of kerosene, diesel and jet fuel to eastern Libya risks upending the balance of Libya’s oil sector, which has maintained production of about 1 million barrels per day despite the outbreak of another civil war.
- Any collapse in Libya’s oil exports would further pinch supplies of light crude already strained by production outages in the wake of attacks on Saudi Arabian facilities and U.S. sanctions on Iran.
- Diplomatic pressure to maintain Libyan production is likely to have success for the time being, but as long as Libya's civil war and broader political crisis continue, its oil exports will remain at risk of disruption.