The closure of Libya’s El Sharara oilfield by local protesters entered its fifth day on Saturday, as the interim unity government promised to address demands even as global oil supply worries intensified.
The 300,000-barrels-per-day field in Libya’s south has been occupied by protesters since Tuesday pressing grievances over poor public services. Tribal leaders called for dialogue, but camps remain erected until concrete action is taken.
The closure is spurring fears domestically and abroad at a time of global market turbulence. Libya’s oil ministry warned partners may exit if oilfields remain shuttered, jeopardizing electricity generation. Internationally, oil prices climbed all week, with analysts citing the El Sharara protests as renewing supply disruption fears.