Wednesday, March 30, 2011
When Libya turn back to oil Market?
According to Reuters, it has been almost two weeks that Libya can not export any crude oil. Before the Libyan Uprising it can produce 1.6 million barrels of oil per day nearly 2 percent of the world total production. It seems to the clashes will continue much more than prediction that causes a halt on Libyan oil export. Since it is unpredictable at the moment who wins the current situation at Libya, oil firms are will be more unwilling to import crude oil from Libya.