Libya's*oil output is 100,000-150,000 barrels per day*(bpd),*a spokesman for the Oil Ministry said on Tuesday,*and a fraction of normal levels due to the shutdown of production and export facilities as a tactic in the country's political stalemate, Reuters reports. Libyan oil output last year was more than 1.2 million bpd and the reduced production adds to the pressure on markets already squeezed by tight supply elsewhere. The Oil Ministry spokesman said Libya was facing a daily loss in export revenue of $70 million-80 million as a result of the shutdowns. National Oil Corporation has not recently commented on oil output. The political dispute over the control of government that is driving the shutdown, meanwhile, shows signs of escalating, making any […]
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