Libya's Oil Industry Should Be Able to Recover Quickly

(USA Today) - Jim Michaels Libya's oil industry should be able to recover fairly quickly after fighting ends, but it might take a year or two to reach pre-rebellion production levels, analysts say. If the country can establish political stability, Libya could begin producing 250,000 to 300,000 barrels a day within several months. Reaching pre-war levels of 1.6 million barrels a day will take a year or more, one analyst said. Before Gaddafi took power, Libya was producing about 3 million barrels a day, nearly twice what it produced during his regime

2011-08-25 00:00:00

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