Crude oil exports from Libya have crumbled to around 400,000 barrels per day bpd this month from 1 million bpd in August
as the political standoff in OPEC’s North African producer continues, Reuters reported on Tuesday, citing data from ports and ship-tracking services. Most of Libya ’s oil exports this month were headed to nearby Italy and Greece, while some cargoes traveled to China and Canada, according to data from oil analytics firm Kpler and port agents quoted by Reuters. Libya ’s National Oil Corporation NOC has canceled some cargoes, although it has not declared force majeure on all exports from the country.
Oil production at several Libyan oilfields was halted on August 27 after the rival government in the east announced a stop to all oil production and exports from Libya. Libya, which pumped about 1.2 million bpd of oil before the halt, was plunged into a deeper political crisis over the row about the leadership of the Central Bank of Libya, the only internationally recognized depository of Libya’s oil revenues.
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