Thursday, September 18, 2025

Crude Supply Crisis Deepens: Libya’s Oil Output Falls Amid Political Crisis

Libya’s crude output fell to less than 1 million barrels per day last week, after the country’s main oil field was shut down by suspected gangs amid a growing political rife.

Libya’s oil minister Mohammed Oun told Bloomberg over the weekend that crude output fell from 1.2 million barrels per day to around 920,000 million barrels per day, after Sharara and El Feel— the country’s largest oil fields— were temporarily shut down. According to individuals familiar with the matter, an alleged group of vandals closed oil production valves last week, all meanwhile six main ports that export Libyan oil to international markets also had to be shut down.

Libya has been subject to reoccurring turmoil since the killing of Moammar Al Qaddafi in 2011, and the unforeseen slump in output comes as the North African country’s political landscape slumps into chaos once again. Last week, Prime Minister Abdul Hamid Dbeibah’s administration refused to abdicate power despite Parliament swearing in a new government, which could further inflame fighting in the region.

The tensions come amid skyrocketing global crude prices, which topped $120 per barrel on Monday as Russia’s military attack on Ukraine continues. Libya’s production shortcomings also present a supply dilemma for OPEC, which has faced urgency from the US and Japan to ramp up oil output in wake of eye-watering gasoline and diesel prices.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Bank of Russia Indicates 33 Equities To Resume Trading On Moscow Exchange Thursday

The Central Bank of Russia this morning indicated that partial trading of securities is finally...

Wednesday, March 23, 2022, 12:42:00 PM

Maxar Technologies: Russian Military Convoy Near Kyiv Stretches for 40 MILES

New satellite images show a Russian military convoy near Kyiv stretching for 40 miles, substantially...

Monday, February 28, 2022, 08:40:34 PM

Explosion at Paris Hotel Leads to Arrest of 26-Year-Old Amid Olympic Security Concerns

French authorities have arrested a 26-year-old Russian-Ukrainian man on suspicion of planning a violent act...

Thursday, June 6, 2024, 03:54:00 PM

US Lawmakers Introduce Bipartisan Bill to Sanction Chinese Firms Aiding Russia

US lawmakers on Wednesday introduced a new bill aimed at imposing sanctions on any Chinese...

Thursday, April 18, 2024, 08:00:37 AM

Trump Sets NATO Conditions Before Imposing Russia Sanctions

President Donald Trump said Saturday he will impose “major sanctions” on Russia only after all...

Monday, September 15, 2025, 02:18:00 PM