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Libya unrest raises oil concerns

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Libya unrest raises oil concerns

A
Al Jazeera English

6 Views • Jun 04, 2012

Description

This is the first time that the changes sweeping the Arab world have hit a major oil producer and there are now fears that the spike in oil prices could hurt the fragile global economy.

While Libya only produces two per cent of world oil production, 85 per cent of that is sent to Europe.

Al Jazeera's Nick Spicer reports from Berlin.