Reuters has highlighted the impact of the closure of Libya’s Sharara oil field on global oil supplies, leading to higher energy prices.
An IG market analyst told the agency that the complete closure of the Sharara oil field due to local protests, and the ongoing tensions in the Red Sea, have renewed concerns about the disruption of crude supplies around the world.
Reuters confirmed that the local protests that began last Wednesday led to a complete shutdown of production at the Sharara field, which can produce up to 300,000 barrels per day, noting that the field “has been a frequent target of local political protests and broader unrest.”
Last Tuesday, protesters from Fezzan announced the closure of the Sharara field after the deadline for responding to their demands of poor services and fuel and gas shortages expired, blaming the National Oil Corporation and governments for the full responsibility if their demands are not met.
Protesters are demanding the provision of fuel and its derivatives in Fezzan, the activation of the decision to establish a refinery in the south, the maintenance of dilapidated roads in Fezzan cities, the appointment of graduates from the region and the restructuring of the Fezzan Reconstruction Fund, and the cancellation of the agreement signed between the Ministry of Health and the National Oil Corporation regarding Orbari General Hospital and obliging the institution to establish a private hospital in Fezzan.
