2014 June 6

The Master Resource Report 2014-06-06

Libyan exports

According to a report on Upstreamonline Libyan exports of crude oil could fall to zero.

Libya’s crude exports could fall to zero in days as the state oil company could be forced to divert the only remaining exports to the Zawiya refinery, which provides crucial gasoline to the country’s capital…..

The total loss of this high quality crude on the global export market needs to make up by other exporting countries, in particular other Opec members. However, since US demand for light crude has continued to fall this has allowed former US imports to flow to markets now unable to obtain the Libyan crude.

US coal production up

The EIA’s weekly estimate of US coal production shows an increase of 2.7% over last week and 2.3% over year-ago levels. The estimate for U.S. year-to-date coal production totaled 407.8 mmst, a slightly lower than the     comparable year-to-date coal production last year.