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Commodities Briefing - Categorized | Market Pulse, Oil more

G7 urges oil supply boost, says ready to call for IEA action

Posted on 30 August 2012

Finance ministers from the Group of Seven major industrialized economies late Tuesday voiced concern about high oil prices and called on oil-producing countries to boost output. In a short statement, the G7 ministers also hinted at the possibility of calling on the International Energy Agency to tap emergency oil stockpiles to ensure the market remains well supplied.
“We remain vigilant of the risks to the global economy. In this context and mindful of the substantial risks posed by elevated oil prices, we are monitoring the situation in oil markets closely,” the finance ministers said in the statement………………………………………..Full Article: Source


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