An armed group shut a valve on the Sharara field’s oil pipeline.
Oil production plummeted over the last few hours.
The Sharara field is Libya’s largest. Valve number 7 was shut, and that caused a buildup of pressure in the pipeline, the National Oil Corporation confirmed.
The crude from that field travels to the port of Zawiya for export. With that route blocked, global supply takes another hit, just as the Middle East remains complicated.
This isn’t the first time Sharara has been caught up in armed disputes.
What caught your attention most about this situation?
$XAU #Oil #Libya #Commodities
Oil production plummeted over the last few hours.
The Sharara field is Libya’s largest. Valve number 7 was shut, and that caused a buildup of pressure in the pipeline, the National Oil Corporation confirmed.
The crude from that field travels to the port of Zawiya for export. With that route blocked, global supply takes another hit, just as the Middle East remains complicated.
This isn’t the first time Sharara has been caught up in armed disputes.
What caught your attention most about this situation?
$XAU #Oil #Libya #Commodities
