Libya’s oil production has fallen by almost 80% since forces loyal to self-styled General Khalifa Haftar of the Libyan National Army imposed a blockade on the OPEC producer’s five key ports, prompting state-run National Oil Corp. to declare force majeure on exports from the terminals, NOC said in a twitter notice on Sunday. Libya’s oil output dropped to 284,153 b/d on January 24, from more than 1.2 million b/d prior to the blockade, NOC said in a public information bulletin. NOC said it assessed cumulative losses of nearly $318 million as a result of the shuttering of the five oil ports, which curtailed production from its major fields and forced it to declare force majeure on exports from the ports of Brega, Ras Lanuf, Marsa el Hariga, Zueitina and Es Sider terminals. Cumulative production losses […]