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Libya’s Crude Oil Exports Drop Sharply After Key Ports Halt

  • Protests bring ports to standstill as political crisis worsens
  • OPEC member is now shipping a third of last year’s volume
The Brega oil port in Marsa Brega, Libya.

The Brega oil port in Marsa Brega, Libya.

Source:: -/AFP/Getty Images

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Libya’s oil exports have fallen to about a third of last year’s level after the worsening political crisis prompted the suspension of shipments from two of the nation’s biggest ports.

Force majeure has been declared on crude shipments from Es Sider and Ras Lanuf,  the country’s largest and third-biggest export terminals, the National Oil Corp. confirmed in a statement late Thursday. The ports of Brega and Zueitina haven’t handled any crude for almost two months.