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OIL: Libyan Crude Exports Slide to 400kbd in September

OIL
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Libya’s crude export dropped to around 400,000 bpd in September so far- well below August’s pace of 1.02mn bpd according to port and shipping data seen by Reuters.

  • The bulk of Libya flows that remained this month headed for Italy and Greece according to Kpler. Some also headed for China and Canada.
  • NOC has not enforced force majeure measures on all ports, instead using the measure on individual cargoes.
  • NOC said on Aug. 28 that oil production had dropped by more than half from typical levels of ~1.2mn bpd to about 590,000 bpd. It has not made public any new production figures since.
  • Libya's two legislative bodies said in early September they had agreed to jointly appoint a central bank governor within 30 days but the situation remains fluid and uncertain.
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Libya’s crude export dropped to around 400,000 bpd in September so far- well below August’s pace of 1.02mn bpd according to port and shipping data seen by Reuters.

  • The bulk of Libya flows that remained this month headed for Italy and Greece according to Kpler. Some also headed for China and Canada.
  • NOC has not enforced force majeure measures on all ports, instead using the measure on individual cargoes.
  • NOC said on Aug. 28 that oil production had dropped by more than half from typical levels of ~1.2mn bpd to about 590,000 bpd. It has not made public any new production figures since.
  • Libya's two legislative bodies said in early September they had agreed to jointly appoint a central bank governor within 30 days but the situation remains fluid and uncertain.