Can Libya Become A Global Oil And Gas Power Once Again?

Given the delicate supply and demand balance at play in the oil market, which, as analyzed in-depth in my new book on the global oil markets, is likely to remain for some time, even relatively incremental additions to that supply on the margin can be significant. Last week, the country’s Minister of Gas and Oil, Mohamed Aoun, stated that it plans to increase oil production to 2.1 million barrels per day (bpd) and natural gas production to about 4 million cubic feet per day over the next five years. Such an increase is entirely achievable,…