Libya saw overnight its worst clashes in the capital Tripoli so far this year, sparking concerns about battles spilling over to the OPEC member’s oil-producing and exporting infrastructure. The most powerful and heavily armed factions in Tripoli fought in several districts of the Libyan capital on Monday evening and Tuesday morning local time, with casualties reported. Due to the unrest, Libya is exempted from the OPEC+ deal and is not obliged to reduce oil production when the alliance decides to intervene in the market with output cuts. Just last month, Libyan oil output was lower than in June, after Sharara, Libya’s largest oilfield, was shut down for a few days as a result of protests from the Zawi tribe over the kidnapping of Faraj Bumatari, a former finance minister. Haftar’s threat followed a similar threat issued by the eastern government in late June.

Source: Libya Today August 15, 2023 14:37 UTC