Wednesday, March 30, 2011

Libyan Oil Production


OPEC member Libya is the world's 17th-largest oil producer, third-largest producer in Africa and holds the continent's largest crude oil reserves. It normally pumps around 1.6 million bpd, 85 percent of which is exported to Europe.

Output is normally equivalent to about 2 percent of global consumption, and unrest has cut it to about 500,000 bpd as many foreign and local workers have left the fields.

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