Michele Kearney's Snuffysmith's Blog Major Foreign Policy, Economics, Energy, and Irrelevancies of the Day
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Thursday, February 24, 2011
Scrambling to swap Libyan crude for Saudi
Scrambling to swap Libyan crude for Saudi Hitting the wires at pixel time — an astonishing promise: RIYADH, Feb 24 (Reuters) – Saudi Arabia is willing and able to supply high quality, light oil to replace any lost Libyan crude, senior Saudi sources said on Thursday. “Saudi is willing and capable of supplying oil of the same quality, either Arab extra light or through blending,” one source said… Some West African crude, such as Angolan crude can also be redirected to Europe, the sources said, while Saudi Arabia could temporarily send extra oil to Asia to compensate. Well, the feasibility of a straight Libyan-Saudi swap has been an …
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