Two Libyan oil ports forced to close

Two of Libya’s oil ports have been forced to close because of military conflict, Bloomberg reports. The Islamist Benghazi militia seized the ports of Es Sidra and Ras Lanuf on March 3rd. Libya’s oil production has been cut to 650,000 barrels a day, from around 700,000 barrels. Oil shipments from the two terminals have been halted until security improves, Bloomberg said, citing Jadalla Alaokali, a board member of the country’s National Oil Corporation (NOC). Crude loadings are likely to be transferred to other Libyan ports, he said.