Libya’s oil output is down to less than 125,000 b/d, a drop of more than 90% since the Libyan National Army imposed a blockade on the country’s five export terminals on January 18, according to a tweet Wednesday by the state-run National Oil Corp. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The OPEC member’s production was down to 123,537 b/d on February 17, compared with 1.22 million b/d before the blockade, NOC said in a public information bulletin posted on Twitter. The total cumulative loss amounts to 29.4 million barrels, or $1.74 billion, the company said. NOC Chairman Mustafa Sanalla has warned that output would plummet to just 72,000 b/d “very soon” if the LNA blockade continued. The self-styled LNA has been jostling for power with the UN-backed Government of National Accord. NOC has declared force majeure on exports from five key […]