Libya’s internationally recognized National Oil Corporation (NOC) said on Thursday that it is concerned about an increased military presence inside one of the country’s key oil terminals, Ras Lanuf, warning that the facility could become a military target, putting at risk its critical oil infrastructure. NOC’s warning is the latest sign that the ongoing fighting among forces loyal to the Tripoli-based UN-recognized government and a self-styled army of a military commander from the east could spill over to Libya’s oil sector and infrastructure, potentially leading to an oil supply outage from the North African OPEC member which pumps just over 1 million bpd at present. While the oil market is fixated on the U.S.-China trade war for signs of demand, and on Iran, Venezuela, and the Middle East for signs of more supply disruptions, investors have not fully priced in the increased risk that Libya’s fighting could result in […]