Libya’s oilfield closures continued to expand on Wednesday, with the Sarir field nearly halting production amid a political standoff over control of the central bank and oil revenue. The eastern authorities, where most of the country’s oilfields are located, had announced a complete halt to production and exports. Sarir, which was producing 209,000 barrels per day, saw a significant reduction in output. Other oilfields like Sharara, El Feel, Amal, Nafoora, and Abu Attifel have also experienced disruptions. In July, Libya was producing around 1.18 million barrels per day. The decision to cut off oil revenue was a response to the sacking of the Central Bank of Libya chief, leading to increased tensions among rival armed factions. Prime Minister Abdulhamid al-Dbeibah called for dialogue and urged that oilfields remain operational. U.S. officials met with Khalifa Haftar, the head of the Libyan National Army, to encourage constructive engagement and dialogue with support from the United Nations and the international community. While oil prices remained relatively stable on Wednesday, they had rallied earlier in the week due to the announcement of the production halt in Libya. The situation continues to unfold as tensions escalate over control of Libya’s vital oil resources.
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Standoff over central bank causes closure of Libya’s oilfields to spread | World News
