16 Oct '11, 2am

Oil flows again in Libya, but challenges remain: LONDON: Libyan oil production has resumed more quickly than exp...

Oil flows again in Libya, but challenges remain: LONDON: Libyan oil production has resumed more quickly than exp...

LONDON: Libyan oil production has resumed more quickly than expected, but the country still has enormous political and technical obstacles to surmount before the situation returns to normal, experts said. "The market should be ready for Libyan crude," said Abdallah El-Badri, secretary general of the OPEC cartel of oil exporting countries, at a conference last week organised by Oil & Money in London. Libya, a key African oil exporter, produced about 1.6 million barrels per day (bpd) before the rebellion against Moamer Kadhafi broke out in mid-February. Production then slowed to a trickle. Around 85 percent of Libyan oil output was exported to Europe, with the disappearance of its high quality light sweet crude from the market one of the reasons why Brent crude from the North Sea has been trading much higher than oil quoted on US exchanges. OPEC sees member Libya resuming pr...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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