Libyan oil exports further struggled from the shutting down of four terminals located in the eastern part of the country due to bad weather conditions.
Also known as Es Sider, Ras Lanuf, Hariga and Zueitina, the four terminals are expected to remain shut until early next week, dragging Libyan oil exports to 900,000 barrels a day, down from over one million barrels daily, Bloomberg reported
The country’s oil exports were already disrupted due to a prior blockade of crucial ports – Zawiya and Mellitah respectively- in the west by a militant force, also known as the Petroleum Facilities Guard .
This blockade accounted for a 45 percent fall in the OPEC state’s oil exports during the first week of 2022 when compared to the previous month’s average.
Any lingering disruptions in the Libyan oil exports poses a risk to the industry recovery that the North African country experienced in 2021, which boosted production to 1.2 million barrels a day.