The International Energy Agency has released some limited information regarding Libya’s crude production and export facilities. However, details are few owing to very poor communication channels and staff shortages within the troubled nation.
Ostensibly, between 850 000 bpd and 1 million bpd of Libya’s 1.6 million bpd oil capacity is currently shut in. Reports from European refiners indicate that there are ample supplies of crude to last until the end of March. The unrest has come at a time when demand for crude oil is relatively low due to a number of significant maintenance operations being undertaken on European refineries.