Crisis In Libya Shows The Effects Of Production Downtimes


The spill-over of the political revolutions from the neighbouring countries to Libya and the resulting civil war have highlighted the threat caused by production downtimes in politically unstable countries. Although with an oil production of about 1.65mn barrels/day (2010; some 1.5mn barrels/day of those were exported) the country accounts for only 2% of global production, the price of Brent increased by about 25% between February and April last year. The influence of downtimes on the oil price does not only depend on the quantity of the production…

Read more...

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds