Libya’s oil exports remain mostly shut

Libya’s oil exports remain largely halted due to a political standoff over control of the central bank and oil revenue, although some tankers are being allowed to load from storage, Reuters reports citing shipping data. The tanker Kriti Samaria is set to load 600,000 barrels of crude from Libya's Zueitina port and deliver it to Italy, engineers said.

Oil exports have been stopped for more than a week amidst a struggle over control of the central bank- the sole depository of Libyan oil revenue. The political crisis was triggered by western factions' attempt to oust the central bank governor, Sadiq al-Kabir, prompting eastern factions to announce shutdown of all oil output August 26. Libya's oil output has more than halved to around 590,000 barrels per day, according to official figures.

While both legislative chambers are working on resolving the dispute, no immediate resolution appears in sight, leaving oil production and exports in limbo.