Libya’s oil crescent on Sunday announced a maximum security alert over possible terrorist attacks in vital oil ports and oilfields, as OPEC’s third disruptor—after Iran and Venezuela—threatens to further unsettle today’s turbulent oil market. The African oil producer faced oil production outages last week, too, as bad weather caused turbines to stop working. Libya has faced a series of what may prove to be insurmountable challenges as protesters, inclement weather, and disputes between factions continue to disrupt its oil production. Armed guards are now standing by at oil ports, according to the Libyan Express, ready to thwart any terrorist attack that seeks to move into the oil crescent region—Libya’s most prolific oil area. Libya’s recovering oil production has been a swing factor for oil prices since 2016.

Source: Libya Today May 29, 2018 07:52 UTC