Libya’s crude oil production reached 100,000 barrels per day following the closure of the country’s production and export facilities.

According to Reuters from Tripoli, a spokesman for the Ministry of Petroleum announced on Tuesday (June 24th) that following the closure of production and export facilities, Libyan oil production is 100 to 150 thousand barrels per day, which is lower than the normal level of production.

Libya crude oil production last year was more than 1.2 million barrels, the outflow of this amount of oil production puts double pressure on the market with limited supply due to problems in other parts of the world.

A spokesman for the Libyan Ministry of Petroleum said: “As a result of the closure of production and export facilities, Bibi has faced a loss of 70 to 80 million dollars in revenues from the sale of oil.”

The political dispute over control of the government has led to the closure of oil production and export facilities, and there are now signs that the situation is escalating, with the rapid return of Libyan oil to world markets in doubt.

Tripoli-based Prime Minister Abdul Hamid al-Dubaiba has refused to hand over power to Fathi Bashagha, who was replaced in March by an eastern parliament in March.

Groups at Libya’s oil facilities have called for Dubai to step down in favor of Basha.

Production at Sharareh Square, Libya’s largest field, was briefly resumed last week and closed again.

The Ross Lanoff and Esseider terminals have been closed, and the Al-Hurricah terminal has been threatened with closure, reducing production in the Serir field.

Libya’s oil production fell by 186,000 barrels in May to 707,000 barrels per day in May, according to the latest report by the Organization of Petroleum Exporting Countries released yesterday (Tuesday, June 24).

provided by: MohammadSadegh Razmi