With Libya’s conflict escalating, the country’s crude oil exports are set to be just 1.2 million barrels in August, a 40-percent plunge from July, Bloomberg reported , citing an initial loading program it has seen. This month, two terminals in the country holding Africa’s largest crude oil reserves are set to ship a cargo of 600,000 barrels each, according to the program Bloomberg has seen. Most of Libya’s oil terminals and facilities are closed amid an ongoing civil war in the country, with violent clashes erupting between armed groups in Libya’s Oil Crescent. Currently, oil production in the country is around 100,000 barrels per day (bpd). This figure is dramatically down from 1.2 million bpd at the start of the year, just before paramilitary formations affiliated with the Libyan National Army (LNA) of eastern Libyan strongman General Khalifa Haftar occupied Libya’s oil export terminals and oilfields. Early in June, […]