Commentary: Lybia’s Crude Oil Output
Crude Oil fundamentals have been overshadowed by economic and geopolitical headlines for the last several weeks, but the supply issue is worth our attention.
Crude Oil investors appeared to be relieved as news reports suggested resumption of Libya’s output with Crude Oil exports soaring in the West.
Heffx-LTN data shows that Libya’s output is now around 600-BPD, compared with the pre-July capacity of 1.5-M BPD.
Now, 40% of Libya’s total export capacity is in operation. But, a significant percentage of the output is diverted to domestic refineries.
Note: Crude Oil fields in Libya’s West have generally resumed operations, those in the East remain shut. It is harder for the government to negotiate in the East than in the West for it involves militia’s demand for autonomy of the Crude Oil rich region.
Latest posts by Paul Ebeling (see all)
- Yellen’s Congressional Testimony Called An ‘Argument To Absurdity’ - February 28, 2015
- LME Base Metals Finished Lower Friday - February 28, 2015
- Chicago Agriculture Commodities Finished Higher - February 27, 2015
- Gold, Crude Oil, Nat Gas Up, Silver Flat, Copper Down - February 27, 2015
- US Stocks Finished A Quiet, Low Volume Down Friday - February 27, 2015
Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 312 219 1354, or email us to get started.
US Stocks Finished A Quiet, Low Volume Down Friday $AAPL, ... read more
Major Currency Pairs Range Bound Friday, US Treasuries Sell Off ... read more
Gold, Crude Oil, Nat Gas Up, Silver Flat, Copper Down ... read more
On February 19, 2015, MTCostello, designed by Michael and Stephanie ... read more