"Libya was exporting 1.3mbd out of global production of around 88mbd (or 1.5%), then you'd expect a price move of around 30% (ie $30, starting at roughly $100 oi;T)"l".hus the mystery is not why prices moved so much, but so little!"Libya is stil exporting oil, so it was not from 1.3 mbd to 0 mbd. I saw estimates, that Lybia's export is about 500 kbd.
Ollie – :
"Libya was exporting 1.3mbd out of global production of around 88mbd (or 1.5%), then you'd expect a price move of around 30% (ie $30, starting at roughly $100 oi;T)"l".hus the mystery is not why prices moved so much, but so little!"Libya is stil exporting oil, so it was not from 1.3 mbd to 0 mbd. I saw estimates, that Lybia's export is about 500 kbd.