Skip to content
Subscriber Only

Oil Shocks Show Libya Recovery May Take Years: Chart of the Day

Libyan oil production may take years to recover if the history of supply shocks in Iran, Iraq and the Soviet Union is anything to go by.

The CHART OF THE DAY shows that the restoration of full production in the former Soviet Union after the end of communism took a decade. Iraq needed four years to equal the output that preceded the 2003 U.S. invasion, and it remains below the level before the war with Iran in 1980. Three decades after the 1979 revolution, production in Iran has yet to be completely restored.