Current worldwide supply;
About 88.1 Million barrels per day.
Current worldwide demand;
About 89.2 million barrels per day.
(source - http://omrpublic.iea.org/ )
Iranian production
3.8 million barrels per day.
Unrest--- >
Libya production
1.7 million barrels per day
Unrest--- >
Algeria production
1.3 million barrels per day
Unrest--- >
Worldwide production 88.1 mbpd
Iran - 3.8 mbpd
Libya - 1.7 mbpd
Algeria - 1.3 mbpd
Total = 81.3 mbpd
Possible supply reduction = 7.7%
If demand already exceeds production, by 1.1 mbpd, and Middle east unrest threatens to disrupt supplies by
another 7.7% or 6.8 mbpd... How does that play out for supply, and demand pricing???
You do the math!
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