Refiners have quickly snapped up the faster-than-expected 1 million b/d rise in Libyan crude production with scant effect on market structure, indicating firm demand, two top oil traders said Nov. 16. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “The early indications [are] that the market has been able to absorb these Libyan volumes without much panic,” one trader said at an industry conference. “The impact of crude differentials to Dated Brent and other market contango was negligible. This is not a market which had no space for Libya’s oil, as it did not incentivize storing of oil at sea.” Libya has rapidly revived its crude production over the past two months, following a ceasefire between groups […]