Russian mercenaries, a CIA-linked general and lots of oil: Explaining Libyas war

  • Libya has seen its oil production slashed by 75% in just one week as warring factions within the country attempt to use the key commodity to seize control.

Libya has seen its oil production slashed by 75% in just one week as warring factions within the country attempt to use the key commodity to seize control.

Output from Africa’s third-largest oil producer has plummeted from around 1.2 million barrels per day (bpd) to just over 320,000 bpd, its state oil company said — an estimated loss of $256 million in revenue per day.

That’s thanks to pipeline closures and blockades of export terminals last week by rebel groups under the command of rogue general Khalifa Haftar, whose militias are battling the U.N.-recognized Government of National Accord (GNA) in Tripoli to take control of the Libyan capital. Fighting in Libya resurged over the weekend, torching a cease-fire brokered by Russia and Turkey in early January.

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