Will Libya Really Flood The Market With Oil?

The markets shouldn’t worry too much about a sudden flow of 1.2 million barrels of oil per day out of Libya. Yes, some of the ports and oilfields have been reopened. But this conflict isn’t over. It’s very fluid, and dangerous power-jockeying in both the east and west portend more trouble ahead. When there’s trouble in Libya, oil is always held hostage. As we noted last week, Fayez al-Sarraj of the GNA in Tripoli has announced his intentions to resign. That has led to an immediate power struggle in the west. The GNA is at…