RE: RE: RE: Oil Prices and ObamaTalking about releasing some of the US strategic reserve is all about the perception not the actuality of any such release. Just as recent comments from the Saudis - that they can increase production to offset Libya disruption - is about the thought that they could do it - not necessarily that they will do it.
Although Libyan oil exports are significant - they are not nevertheless sufficient enough in overall world production to derail the economic recovery. Disruption in Saudi would be another kettle of fish altogether - and that concern - although seemingly not imminent - is what is driving Brent up and is far more significant than events in Libya.
T he oil shortage card is being over played by the market - for its own agenda IMO.
Granted a protracted civil war in Libya would be a negative factor but in the long run the bottom line is all exporters no matter who eventually forms the government want to export their oil as much as producers want to buy it - whether that be Libya or Egypt or any other.