Protests in Libya have disrupted oil exports, with demonstrators preventing the loading of oil tankers at the Sidra and Ras Lanuf ports, threatening to halt approximately 450,000 barrels per day. The protesters, who sent their demands to the National Oil Corporation (NOC) on January 5, are calling for the transfer of oil companies to the Al-Hilal oil area and fair progress of their coastal region to improve living conditions.
“We want nothing but equality, we are suffering a lot in our areas of oil. Oil comes out of our areas, we only take toxic smoke,” Hossam Al-Khader, one of the protesters, told Reuters.
the NOC has yet to respond to Reuters’ request for comment.This turmoil coincides with discussions within the Association of Petroleum Exporting Countries (OPEC), of which Libya is a member, to gradually increase production following calls from US President Donald Trump to reduce oil prices.
Despite the protests, the NOC announced on its official X platform account that libya’s crude oil production has exceeded 1.4 million barrels per day, marking a 200,000-barrel increase from pre-civil war levels. However, it remains unclear whether the blockade of oil tankers will impact production.
A loading program reviewed by Reuters revealed that Sidra Port was set to export 340,000 barrels per day of crude in January, with an additional 110,000 barrels scheduled for loading from Ras Lanuf.
Brent crude prices rose by 55 cents to $77.63 a barrel by 1236 GMT. analysts attributed the increase partly to supply concerns from Libya, though gains were tempered by weak economic data from China and forecasts of warmer weather in other regions.
this is not the first time protests have disrupted Libya’s oil operations. Last August, a dispute over the Central Bank Governor’s position led to a halt in production of about 700,000 barrels per day. The closures lasted over a month before production gradually resumed in early October.
| Key Points | Details |
|————————————|—————————————————————————–|
| Protest Locations | Sidra and Ras Lanuf ports |
| daily export Threat | 450,000 barrels per day |
| Protesters’ Demands | Transfer of oil companies to Al-Hilal, fair coastal development |
| Current Production | 1.4 million barrels per day (200,000 above pre-civil war levels) |
| Brent Crude Price | $77.63 per barrel (up 55 cents) |
| Previous Disruption | August 2023: 700,000 barrels per day halted for over a month |
The situation underscores the fragility of Libya’s oil sector, which remains vulnerable to political and social unrest. As OPEC navigates production strategies, the impact of these protests on global oil markets will be closely monitored.
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