OPEC is concerned by unrest in Egypt but sees no need for a boost in output as there is no shortage of oil, an official of the group's top producer Saudi Arabia said yesterday.
Prices have spiked due to tensions in Egypt. Brent crude is near $100 per barrel on fears instability could spread through the Middle East, which together with North Africa, extracts over a third of the world's oil.
Opec worried by Egypt
OPEC is concerned by unrest in Egypt but sees no need for a boost in output as there is no shortage of oil, an official of the group's top producer Saudi Arabia said yesterday.
Prices have spiked due to tensions in Egypt. Brent crude is near $100 per barrel on fears instability could spread through the Middle East, which together with North Africa, extracts over a third of the world's oil.
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