Libya Says It May Suspend Oil Exports From Key Terminals
- NOC could declare force majeure for Gulf of Sirte in 72 hours
- OPEC member’s output has already slumped amid port closures
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Libya’s state oil company said it may suspend exports from the Gulf of Sirte, which contains many of the OPEC member’s main ports, in the next three days amid a worsening political crisis.
The National Oil Corp. said it could declare force majeure, a clause in contracts allowing shipments to be halted, within 72 hours, according to a statement on Monday.