Libya’s oil output graph over the past few years mirrors the oscilloscope readings of a patient on life support. And, things could get worse. State-owned National Oil Corporation, or NOC, has warned that the lack of funds to import sufficient refined products “to serve the basic needs of Libyans” could result in fuel shortages. The country’s crude production has averaged as low as 110,000 b/d in the past week, less than a tenth of what it was producing before January 18, when the Libyan National Army, or LNA, orchestrated an oil port blockade. NOC said in a statement that Libyan production averaged 114,331 b/d 109,000 b/d […]