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EU: Gadhafi doesn't control most oil fields

BRUSSELS — The European Union says that Libya’s strongman Moammar Gadhafi no longer controls most of the oil and gas fields in the country.

EU Energy Commissioner Guenther Oettinger said today that control over much of the oil and gas fields is in the hands of regional families or provisional regional leaders that have emerged from the revolt and chaos.

The unrest in the North African nation has sent shudders through global oil markets, with concern centering on the possibility that the unrest could spread to other OPEC members, triggering a major supply crunch that would propel prices forward and potentially undercut global economic recovery efforts.

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