The American news agency Bloomberg has reported a continued decline in Libya’s crude oil exports due to the ongoing closure of the country’s oil ports.
According to a Bloomberg report, oil exports have dropped to approximately one shipment every two to three days over the past week, compared to one tanker every day or two at the beginning of the month.
Libya exported 314,000 barrels per day (bpd) last week, down from 468,000 bpd during the first five days of the month, as indicated by tanker tracking data.
In recent days, only three tankers were loaded through Libya’s ports, compared to four at the beginning of the month, according to the same source.
It is noteworthy that the government appointed by the House of Representatives announced the closure of all oil fields on August 26.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
