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What is Oil Crisis and Middle East Unrest about?

Oil prices have surged above $115 per barrel as unrest has spread across several major oil producing countries in the Middle East and North Africa region, including Libya, Bahrain, Yemen, Iran and Algeria. The sudden ousting of leaders and growing violence adds uncertainty and risk that disrupts supply or future production. While spare production capacity exists, primarily in Saudi Arabia, concerns are rising that unrest could spread and further disrupt supply from the region that provides over a third of t

Author

Javiera Vallejos Saldías

Language

EN