This week was marked by reports of a gradual resumption of oil exports and an increase in Libya’s output. Oil production is currently estimated at 850k barrels per day (bpd).
Political developments continue to unfold in Libya highlighting deepened fragmentation between political rivals and local dissatisfaction with the current status quo across the country. This week important political developments occurred in the Western and Eastern power blocs.
This week was marked by the Libyan National Army’s (LNA) decision to resume exports from the Eastern ports and subsequently hand back control of the Oil Crescent’s four main terminals to the Tripoli-based National Oil Corporation (NOC).