Libya’s oil exports fell by about 81% last week after the National Oil Corporation cancelled shipments amid a crisis over control of the central bank and oil revenues, data from the company showed.
The crisis began last month when factions based in the west of the country moved to oust the veteran central bank governor, prompting factions in the east to declare a complete shutdown of oil production.
Libyan ports shipped an average of 194,000 barrels per day (bpd) of crude last week, Kepler data showed, down about 81% from just over 1 million bpd the week before.
Although Libya’s two legislative bodies announced last week that they had agreed to jointly appoint a central bank governor within 30 days, the situation remains unclear and uncertain.
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