⁍ Libya’s oil output has risen to 270,000 barrels per day (bpd) following the easing of a blockade by eastern forces.

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⁍ The blockade, which began in January, slashed Libya’s oil production from around 1.2 million bpd to around 100,000 bpd.

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⁍ News of the pick up weighed on oil prices, as the market reels from a bleak demand outlook amid rising coronavirus cases.

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– Libya’s oil production has risen to 270,000 barrels per day, a Libyan oil source tells Reuters, following the easing of a blockade by eastern forces. The blockade, which began in January, slashed Libya’s oil production from around 1.2 million bpd to around 100,000 bpd. News of the pick up weighed on oil prices, as the market reels from a bleak demand outlook amid rising coronavirus cases. Export activity at three oil terminals—Hariga, Zueitina, and Brega—is rising. Brega is expected to export three 600,000 barrel cargoes in October, according to a loading program seen by Reuters. At Zueitina, three tankers are expected to load Bu Attifel crude for Austrian oil firm OMV, Spanish refiner Repsol, and Italian refiner Saracastle. At Hariga, Unipec, the trading arm of China’s Sinpoec, has already loaded 2 million barrels of Mesla and Sarir crude on board the Delta Hellas and the Marlin Shikoku tankers. Both tankers are broadcasting as their destination, according to Refinitiv data. Libya’s Es Sider and Ras Lanuf oil terminals are yet to resume exports. NOC said it would only resume exports from ports where militants had vacated their positions. When the port resumes operations, it is expected to be the first to load a cargo for US firm Hess, one of the shareholders in Libya’s Waha oil company, traders and ship agents said.