Storms in Libya Bring Oil Production to a Halt

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Bad weather and storms has caused major oil export terminals to shutdown and cease operations forcing Libya to lose oil production this month.

With plans of increasing oil production Libya had aimed to produce 1.6 million bdp. Yet in the wake of these weather reports it is unlikely that Libya will reach even near that number.

Libya has been suffering severe rainfall that closed all its oil export terminals along with roads and the airport in Benghazi, Reuters reported earlier this week. Flooding and high waves on the coast made the docking of tankers impossible, stranding more oil in storage.

S&P Global Platts have been told that in fact the weather and storms will cause Libya to only produce and store half their objective of oil production this month.

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