A blockade of Libyan oil output by groups aligned with forces in the east of the country expanded on Thursday and Friday with the closure of two more export terminals, a threat to close another, and reduced production at a major field, engineers said. Libyan oil output had already fallen by about half to 600,000 barrels per day after groups closed the major Sharara and El Feel fields last month, though work at Sharara briefly resumed this week before stopping again. Analysts and diplomats say the oil shutdown has been largely instigated by the main factions in eastern Libya including commander Khalifa Haftar and his Libyan National Army. Previous periods of political tension in Libya have frequently involved shutdowns of oil output or exports by various forces. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.

Source: Libya Today June 10, 2022 12:28 UTC