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Analyst: Struggling Gas Prices May Create Opportunity For Oil

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By Darren Barbee, Hart Energy
January 13, 2014

The prospect of Iran and Libya flooding the world with crude has skittish investors oil shy as concerns rise that global crude capacity will tank WTI prices.

Libyan production rose to about 600,000 barrels per day late last week according to the National Oil Corp., including 300,000 barrels per day from the Sharara oil field that recently re-started. That compares to lows of about 200,000 barrels of oil per day a few weeks back.

Improving supply from Libya remains fragile given ongoing civil unrest, but it has contributed to oil ...

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