Libya produces about 1.6 million barrels a day; a sizable amount but just a fraction of the world's overall 87.5 million barrel-a-day appetite.

Relax, Libya oil crisis is no big deal - watchdog

By News on the Net —— Bio and Archives--February 24, 2011

Global Warming-Energy-Environment | Comments | Back To Full Article

By Steve Hargreaves, senior writer, CNN Money NEW YORK ~ Don't panic, the world has plenty of oil to cover any loss in Libyan production. That's the message the head of the International Energy Agency, the group formed to protect against global energy supply disruptions, sent the market on Tuesday.

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