Given the economic mayhem that energy price-fuelled inflation has caused for Western governments since Russia’s invasion of Crimea, the last thing they want is another oil production shutdown in Libya that would push oil prices higher again. The last time he issued such a warning, Libyan oil production of over 1.2 million barrels per day (bpd) collapsed, contributing to rising oil prices. Oil production also stopped at Abuatufol, Al-Intisar, Anakhla, and Nafura. Overall, during that wave of blockades and shutdowns, Libya was losing around 550,000 bpd of its oil production. It is apposite to remember as well at this point that Libya still has around 48 billion barrels of proved crude oil reserves – the largest in Africa.

Source: Libya Today July 10, 2023 23:00 UTC