Libya is getting worse

[dan_s]

Libya's oil output has been slashed to between 600,000 and 700,000 bpd from more than 1 million bpd following clashes at its Ras Lanuf and Es Sider oil terminals, a Libyan oil source said. Traders said a drop in Libyan supplies, including the loss of a 400,000-barrel storage tank, also helped push up prices.

An attack by armed factions opposed to Khalifa Haftar's Libyan National Army (LNA) has forced the closure of the country's two major oil export ports since June 14 and the declaration of force majeure on exports.