Libya is still exporting crude despite an ongoing two-week blockade, Argus said.

• Exports have fallen drastically to as low as 300k b/d, compared to 1m b/d pre-blockade.
• The shutdown was meant to halt operations at Libya’s eastern oil terminals - Es Sider, Ras Lanuf, Zueitina, Marsa el Brega and Marsa el Hariga.
• However, all of Libya’s exports in September to date have loaded from the listed ports.
• The more flexible nature of this blockade appears designed to suit the interests of the Libyan National Army, which controls the country’s east and southwest.
• At least some, if not all, of the cargoes departing Libya this month are part of NOC’s crude-for-products programme. This is key to a booming fuel smuggling industry centred in the east, Argus said.
• "What we're seeing is not really a conventional blockade," said Jalel Harchaoui, a Libya specialist at the UK's RUSI, cited by Argus.