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Oil Price

Libya exports 7% of crude from Mediterranean and Middle East

According to media reports Libya’s share of global oil production of 85 mb/d  is “only” 2%.  But that is not the important metric. What matters is the percentage of global crude oil exports. And that percentage is 1.22 / 41.2 mb/d = 3%.

We note that global crude oil exports have peaked in 2005 at 44.4 [...]