In a dramatic turn of events, Libyan oil exports plummeted by 81% last week amidst a crisis over control of the central bank and oil revenue, according to data from Kpler. This situation arose when western Libyan factions attempted to remove the long-standing central bank governor, leading eastern factions to halt all oil output.
Despite assurances from Libya’s legislative bodies about jointly appointing a new central bank governor within 30 days, the situation remains tense and uncertain. The United Nations Support Mission in Libya (UNSMIL) is working diligently to facilitate talks and resolve the crisis.
Meanwhile, the National Oil Corporation (NOC) has been forced to cancel several oil cargoes, including those from the Es Sider, Amna, and Brega fields. While some tankers have been allowed to load crude from storage to fulfill contracts, overall oil production has significantly decreased.
As the standoff continues, NOC has not ruled out further disruptions in oil output, which could have widespread implications for Libya’s economy. The international community is closely monitoring the situation, hoping for a swift resolution to avoid further turmoil in the region.
[ad_2]
Source link
