Libya's Oil Output Plunges Amid Blockades at Key Facilities

Libya's oil production has taken a hit due to blockades at its largest oilfield and Zawiya refinery. The El Sharara oilfield, operated by Akakus Oil Operations, saw production plummet after an armed group closed the export pipeline valve on Monday.

The closure caused a pressure buildup within the crude oil pipeline, resulting in a significant reduction of 130,000 barrels per day (b/d) in production. The National Oil Corporation (NOC) expects this loss to increase if the shutdown persists.

Adding to the disruption, members of the Petroleum Facilities Guard have blocked the gates of the Zawiya Refinery, preventing the facility from operating at optimal levels.