Libya Calls for Higher Oil Quota in OPEC
http://www.foxbusiness.com/news/2013/04/22/libya-says-wants-higher-oil-quota-in-opec/#ixzz2RJgEW9fN
Libya will seek to increase its oil output quota in the Organization of the Petroleum Exporting Countries, Oil Minister Abdelbari al-Arusi said on Monday.
OPEC dropped individual allocations in 2011 when it adopted a 30-million-bpd output target. But with production rising in Libya and Iraq the issue of quotas may need to be addressed at some stage.
Libya’s last output target, under a 2008 deal where quotas were not issued publicly, was 1.47 million bpd. Al-Arusi said that current Libyan oil production stood at around 1.5 million barrels per day.
Why don’t we just screw OPEC and flood our oil onto the market? Oh yeah Obama and the environazis!