Energy: What next for Libya oil?

Libyan rebels guard an oil terminal hoping the country’s rich oil deposits will offer them a good future (photo: dpa)
Libyan rebels guard an oil terminal hoping the country’s rich oil deposits will offer them a good future (photo: dpa)

Oil is crucial to the Libyan economy. How quickly can production resume – or have the months of fierce civil unrest done irreparable harm to the country’s oil industry? asks GIS expert, Dr Carole Nakhle in this briefing.

THE outcome of Libya’s transition to the post-Gaddafi era will have significant implications on the global oil market.

In June 2011, four months after the start of Libya’s civil war, the International Energy Agency (IEA) responded to the disruption of the country’s oil supplies and, in an attempt to ease the upward pressure on global oil prices, announced the release of 60 million barrels of oil from emergency stocks.

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