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Libya: oil and gas

Source: Financial Times, 22nd August 2011

The Libyan revolution is not about oil and gas. But a new government will want production to increase soon: in peaceful times those commodities produced one-quarter of the country's gross domestic product. Oil buyers should be almost as enthusiastic, even though Libyan production contributed only 2 per cent of global production last year. As with any commodity, small changes in oil production can have a big influence on prices.



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