Libyan oil market could offer support to the Aframax Mediterranean market.

The Aframax Mediterranean market stands to benefit from a potential recovery of Libya's oil production, however difficult this may sound at present. In its latest weekly report, shipbroker Gibson said that "in recent years, despite holding the largest oil reserves in Africa and the 9th largest reserves in the world estimated at 48.40 billion barrels, Libya has gone from a top OPEC producer to struggling to maintain a consistent level of production and exports. Prior to the 2011 Libyan civil...