G8 'to address oil price movement'
 05 Jun 2008
Soaring oil prices will form an important part of the agenda when the Group of Eight of the world's most developed nations meets next week.
According to Japanese finance minister Fukushiro Nukaga, finance ministers will debate oil price inflation and measures to combat soaring fuel costs.
Oil prices have doubled over the past year and international calls are growing for world leaders to take immediate action to curb rises.
Mr Nukaga suggests that producer countries need to increase production capabilities and increase market transparency, while consumer nations need to implement energy saving measures, the AFP news agency reports.
Finance ministers from the G8 nations are due to meet from June 13th in Osaka, Japan, to debate a range of global issues.
Fuel prices around the world have been forced up by growing levels of demand and concerns about the stability of supplies.
Oil producers' cartel Opec has announced that it has no plans to raise production before its September meeting and insists that it is the global economic downturn and speculation by investors that is fuelling price rises.
British fisherman staged a protest outside the Department for Environment, Food and Rural Affairs this week, claiming that the industry is being left "vulnerable" by soaring fuel costs.
Click here to view home heating oil price trends.
RSS newsfeed
Stay up to date with our RSS newsfeed with articles for all home heating oil users including market/price news and environmental issues.
 RSS newsfeed
Get your FREE instant online quote for home heating oil - we find the cheapest price in your area, saving you time, money and hassle!
More news:
News archive...
© Adfero Ltd
|
