A confusing picture at the moment on measures to address the Libyan supply shortfall in the short term — even as Gaddafi’s end seems to be nearing, at last.
And it really is the short term that matters for those exposed to Libya.
While the International Energy Agency insisted that European refiners had enough supply for a month and said coordinated action was unnecessary, Reuters reported that Saudi Arabia has quietly lifted daily output above 9m barrels. Separately, the ruling council based in Libya’s eastern city of Benghazi said that all oil terminals under anti-Gaddafi control were working, but with a 75 per cent shutdown.
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