Oil Exports by Country

Here is a great chart from this morning's WSJ that breaks out oil exports by country. As suggested in the chart, Libya exports 1.5 million barrels/day of light sweet crude. While Saudia Arabia has stated that they would draw on their spare capacity to address any shortfalls in Libyan production (which is estimated to have dropped by 1 million barrels/day), Saudian Arabian oil is much heavier than Libayn oil and could not be handled by the many refineries that process Libyan oil. As such, many of these refineries that can only process light sweet crude would have to turn to a limited number of other countries for supplies, including Nigeria and Algeria, themselves the subject of growing unrest.