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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Protests disrupt oil production in Libya, worsening Russia supply problems

  • By Al Mayadeen Net
  • Source: Agencies
  • 18 Apr 2022 23:02
2 Min Read

Brent crude oil has settled Monday's price at $113.16, up $1.46 or 1.3%, whereas West Texas Intermediate has finished at $108.21, up $1.26 or 1.2%.

  • x
  • The Sharara oil field in southwest Libya has the capacity to produce one-third of the country's crude output (MEE/Tom Westcott)
    The Sharara oil field in southwest Libya has the capacity to produce one-third of the country's crude output (Middle East Eye)

On Monday, oil prices rose for the fourth session in a row as Libya sees production disruptions, adding to the market dilemma due to Western sanctions on Russian exports. 

According to Bloomberg, the Sharara field in western Libya closed down after protesters mobilized at the site, demanding that the Libyan Prime Minister, Abdul Hamid Dbeibah, resign. El Feel oil deposit has also been closed down for the same reason.

Brent crude oil settled Monday's price at $113.16, up $1.46 or 1.3%. Last week, Brent gained 8.7% after two weeks of losses which ate 13% of crude prices.

Related News

Libya's National Oil Corp head: Lifting force majeure on all fields

Libya’s largest oilfield resumes operations after 2 months of shutdown

West Texas Intermediate finished Monday at $108.21, up $1.26 or 1.2%. WTI increased 8.8% last week, after a 13% loss over two previous weeks.

Read more: US Oil Exec: High energy prices caused by Biden's policies

This year, Libya's oil production averaged just over 1 million barrels a day, a decrease from 2021, 1.2 million, according to media reports. This drop is bleeding the economy millions of dollars in revenue.

Recently, the International Energy Agency warned that around 3 million barrels a day of Russian oil could be halted from May onward due to the sanctions implemented on Russian oil and exports. 

According to the Interfax news agency on Friday, Russian oil output has been on a decrease in April, declining 7.5% from March till the first half of April. 

Read more: Reckless US sanctions on Russia trigger global inflation - The Global Times
  • Libya
  • Russia
  • El Feel
  • Sharara field

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