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Libyan Crude Exports Slipping in June

OIL
BulletEnergy BulletsCommodities

Libya: crude oil exports during the first 12 days in June averaged 569 kb/d, down by 153 kb/d versus the full month of May according to Petro Logistics.

  • Libyan crude exports are expected to be hit further this month due to protests shutting down most of the countries crude production and shutting down ports.
  • Libya's Oil Minister said this week that oil production has fallen by 1.1 million bpd over the latest disruption to around 100,000-150,000 bpd.
  • As a result, Libya is losing about $70 to $80 million daily in oil revenues, according to the oil ministry.
  • Libya has proved it can restart production relatively quickly but protests surrounding interim PM Abdul Hamid Dbeibah’s refusal to give up his seat look unlikely to be resolved any time soon.

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Libya: crude oil exports during the first 12 days in June averaged 569 kb/d, down by 153 kb/d versus the full month of May according to Petro Logistics.

  • Libyan crude exports are expected to be hit further this month due to protests shutting down most of the countries crude production and shutting down ports.
  • Libya's Oil Minister said this week that oil production has fallen by 1.1 million bpd over the latest disruption to around 100,000-150,000 bpd.
  • As a result, Libya is losing about $70 to $80 million daily in oil revenues, according to the oil ministry.
  • Libya has proved it can restart production relatively quickly but protests surrounding interim PM Abdul Hamid Dbeibah’s refusal to give up his seat look unlikely to be resolved any time soon.