Just as Libya partially recovered its oil production, bad weather forced the closure of four oil export terminals in the east—a sign that Libya’s crude exports in January will be much lower than in November, the last month of relatively stable and normal operations at its oilfields and oil ports. On December 20, Libya declared force majeure on its oil exports after crude oil production had been shut in from four of Libya’s oilfields, including the largest 300,000-bpd El Sharara field. Apart from bad weather and blockades, Libya suffered in recent days from the shut-in of 200,000 bpd of crude oil production due to maintenance work on a pipeline. Libya’s oil production had slumped to 780,000 barrels per day early last week, before production was restored after the pipeline repairs were completed earlier than planned. This compares to 1.14 million bpd of crude oil in November 2021, according to the latest Monthly Oil Market Report (MOMR) from OPEC.

Source: Libya Today January 10, 2022 20:29 UTC