Libya’s NOC declares force majeure on two more oil ports

Bloomberg

Libya’s National Oil Corp (NOC) declared force majeure on another two oil ports, removing thousands more barrels from the market just as global supply concerns put pressure on OPEC to ramp up production.
Oil loadings at the Zueitina and Hariga export terminals in eastern Libya have stopped, the Tripoli-based NOC said on Monday.
The halt comes just a week after the Es Sider and Ras Lanuf ports were shut down, and coincides with US calls on the Organization of Petroleum Exporting Countries to pump more and cool prices.
While Libya holds Africa’s largest oil reserves, years of conflict among armed groups competing for influence over its energy riches have hobbled production and exports. The latest port halts, combined with the shutdown of Es Sider and Ras Lanuf, will cut the country’s oil output by 850,000 barrels a day at a cost of about $67.4 million a day, according to the NOC.