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Libya's Sharara field, its biggest, stopped producing about a week after reopening, and the NOC declared force majeure on Sharara loadings at Zawiya terminal. Sharara had been pumping 200,000 bopd, and national output had just returned to about 700,000 bopd.
A renewed Libyan outage removes crude supply from an already tight OPEC-managed market, supporting oil prices. Higher crude costs also feed through to diesel and biofuel economics.
worldoil.comSalma El Wardany, Saleh SarrarApr 10, 2017After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
