oddetorium
04:50
Oil Keeps Flowing Despite Unrest, but High Prices Jangle Nerves Worldwide
Sunday, February 20, 2011
PARIS -- The turmoil in North Africa and the Middle East has helped drive oil prices up to more than $102 a barrel for an important benchmark crude, Brent, although so far there have been no significant disruptions in production or supply, according to experts at the International Energy Agency here.
While Egypt and Tunisia have little oil, Libya is one of Africa's largest holders of crude oil reserves, Algeria and Iran are major suppliers and Bahrain and Yemen both border Saudi Arabia on the peninsula that produces most of the world's oil. Together, Libya, Algeria, Yemen, Bahrain and Iran represent about 10 percent of global oil production.
