Moamer Kadhafi accused the West of wanting to seize Libya's oil and warned that a no-fly zone would backfire as his forces pounded rebel lines, setting a string of oil facilities ablaze.
The boss of Libya's state oil firm said the damage to infrastructure was minor but acknowledged that oil output was down more than two-thirds, as the price for London's main contract jumped to $116.50 per barrel.
"The colonialist countries are hatching a plot to humiliate the Libyan people, reduce them to slavery and control the oil," Kadhafi said on state television.
He again accused Al-Qaeda of being behind the insurrection that began on February 15 and called on inhabitants of Benghazi, the rebels' main base, to "liberate" Libya's second city.
His government offered a $410,000 bounty for the capture of Mustafa Abdel Jalil, head of the rebel national council that declared itself the North African country's sole representative in Benghazi on Saturday.