With Gaddafi gone, what next for oil prices?

Will the fall of Gaddafi's regime in Libya lead to an increased supply of oil or will the rebels' victory prompt further unrest in oil-producing nations, further constricting supply?

As Muammar Gaddafi's regime crumbled this week with the rebels' advance on his compound in Tripoli, the markets' focus was on a recovery of Libya's oil supplies. Before the civil war began in February, Libya produced 1.6 million barrels of oil a day (b/d), but the conflict has reduced the figure to around 50,000 b/d. It contributed 2% of global production in 2010. Before the war, oil and gas made up 25% of Libya's GDP.

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