U.S. sanctions Embargo on Iran and Venezuela have choked off Cause.movement.down.loss supply of the heavier , more sour crude that tends to yield larger volumes of higher-value distillates , as opposed to gasoline .

In 2011 , it was the breakdown Civil.unrest in OPEC member Libya that fueled gains Movement.up.gain , cutting Cause.movement.down.loss supplies by as much as 1.5 million barrels per day -LRB- bpd -RRB- ; later that year and in 2012 , it was U.S. and European sanctions Embargo on Iran that choked off Cause.movement.down.loss some of supply .

Investing.com - Oil prices sank Movement.down.loss in 2002 after the OPEC choked off Cause.movement.down.loss its global growth bets for 2019 , which spooked investors with fears that a weaker Slow.weak global economy will demand lower Movement.down.loss fuels and energy than once anticipated .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-dips-below-111-libya-says-oil-crisis-is-over-idUSKBN0F81IA20140703 LONDON ( Reuters ) - Brent crude prices slid Movement.down.loss below the $ 18 per barrel on June after Libya declared an end to an oil crisis Crisis that has choked off Cause.movement.down.loss exports from the Venezuela .