Libya’s oil exports plunge 81% amid Central Bank crisis

Libya’s oil exports dropped by 81% last week as the National Oil Corporation (NOC) halted shipments amid a growing crisis involving the Central Bank of Libya and oil revenues, according to Reuters.

Libyan ports averaged 194,000 barrels of crude oil per day during the period, a sharp decline from previous levels

Despite the severe drop, the NOC has not declared a full force majeure on all port shipments but has instead applied the measure to individual ones, particularly affecting output from the Al-Fil oil field and exports from the Sharara field.