is to stop pumping oil from wells Jamahiriya, the dilemma of the consuming countries that are looking for an alternative solution offset the loss of this source of high-quality light crude.
One month after the outbreak of the conflict between the rebels and the forces of the Libyan leader, Muammar Gaddafi, the world oil market finds itself deprived of the 1,3 million barrels of oil, Libya was issued before the crisis, mostly to Europe.
This amount represents about 1,5 percent of oil consumption in the world. It does not seem difficult to mathematically compensate for this loss,
especially that Saudi Arabia is the primary source of oil in the «OPEC», it has a capacity to produce an additional amount of $ 3,5 million barrels per day if needed. But the reality is that Saudi crude lower quality of Libyan crude oil refining, which is easier and less expensive, lighter and as it contains a small percentage of sulfur.The analyst in the Office of Studies concerned «IHS walk», Bhushan Bahri: «Consumers are forced to study the options available to them because it seems now clear that the offer from Libya may remain volatile for a period».
He explained that «the raw qualities very close to him found in Algeria, Angola and Nigeria, but none quite like him».
And record a significant increase in the demand for oil these countries since the outbreak of the crisis Libya, which led to higher prices.
The price of Nigerian crude Reference «Bonny Light» and «desert Bland» Algerian respectively 2.85 and 3.40 dollars a barrel, the reference prices in London, where swinging the barrel price of $ 115 soon.
Said an analyst at research firm «Kilduff Report», Mike Fitzpatrick, said that «Nigeria pumped as much as can» to meet demand. However, they are also not immune to the unrest, as witnessed Algeria demonstrations prompted the authorities to undertaking reforms and raise the case of an emergency the end of February (February) the past, as are oil installations, Nigeria regularly attacked by groups of rebels, with the approach of the general elections scheduled in April (April ).
Analysts believe that the consequences of the conflict in Libya is still limited so far because the refineries are using existing reserves. But they warned that the crisis continues for a long time, may require processing heavy crude oil at an additional cost.
She and the U.S. Department of Energy recently raised concerns about the consequences of this amendment in the means of refining to adapt with the quality of oil, which may have made, at the time of acceleration recorded to produce fuel in preparation for the summer, which is witnessing a big increase in consumption in the United States.
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