Energy Prospectus

Libya Production Drops Even Lower. Libya’s national oil company reported that as of Monday its oil production stood at 135.7 thousand barrels per day, roughly one-tenth of what it was before Field Marshal Haftar’s army launched a blockade of Libya’s ports. Total losses from the blockade already reached $1.6 billion, according to NOC.

This more than offsets the decline in demand from China, but no one seems to notice.