Oil Steady Despite Protests Limiting Libyan Exports

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Crude loadings at Mellitah, a major export terminal in El-Feel, will be “modified” after force majeure was declared on deliveries from the deposit on Feb. 23, the state-run National Oil Corp. A recent article by Bloomberg addresses how even with a fragile political accord barely holding the country together, Libya faces an array of challenges preventing its return to the output levels of about 1.8 million barrels a day pumped in 2008. Pipelines and other facilities are targeted by armed factions and tribal groups jostling for political control and a share of oil revenue.

However, despite Libyan protests having limited oil field exports from Libya — an OPEC member — oil markets remain steady following Saudi’s response to the disruption at Mellitah.

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