Libya’s state oil company suspended shipments from the key eastern port of Ras Lanuf, amid a worsening political crisis in the OPEC member.
amely, the National Oil Corp. (NOC) informed trading and shipping firms of force majeure restrictions at the terminal.
The move came a day after the NOC said it may have to halt exports from the Gulf of Sirte, which includes Ras Lanuf and other ports such as Es Sider, Brega and Zueitina.
While it’s unclear if Es Sider will also be placed under force majeure, the production of Waha Oil Co., has almost completely shut down.
The drop in Libya’s supply is now further tightening the global oil market, with Libya’s crude production having being halved since mid-April to 600,000 barrels a day, according to Bloomberg.
The recent closures are linked to politics, with protesters at energy facilities demanding the transfer of power to Bashagha.