Libya’s oil production is down to less than 200,000 bpd, and the uncertainty surrounding the outage create complications for OPEC+ as it looks to cut deeper. Libya’s civil war entered a dangerous new phase a few weeks ago when the Libyan National Army (LNA) and associated militias blockaded oil export terminals as a way of applying pressure on the Government of National Accord (GNA) in Tripoli. The standoff continues, and Libya’s output has plunged to around 180,000 bpd, according to estimates from late last week. On Sunday, Libya’s Azzawiya Oil Refining Company said that it was ceasing refining operations for the time being because it does not have enough crude oil. The National Oil Company warned in January that production would ultimately fall to zero because storage would fill up and oil fields would need to be idled. The outage is significant, totaling between 800,000 bpd and 1 million […]