Libya's NOC Says Sharara Field Running at Reduced Capacity

Libya’s National Oil Corporation (NOC) said on Tuesday it was reducing production from the ~300,000 bpd Sharara field.

• The reduced production story counters Bloomberg sources on Monday that said production had halted having ramped down on Sunday.
• Two field engineers told Reuters on Tuesday that the field was still running at ~200,000 bpd.
• In an official statement posted on X, NOC attributed the gradual reduction in output to "force majeure circumstances resulting from a sit-in of the gathering of the Fezan movement".
• There are a number of conflicting reports coming out on Sharara’s status this week as well as a lack of clarity over the cause.