Energy ministers discuss fears of soaring oil prices
Sunday, June 08, 2008
Energy ministers from around the globe have met in
Japan amid fears that soaring oil prices could damage the world
economy.
The G8 meeting comes two days after a record
one-day jump in crude oil prices to $139 a barrel.
It is understood that disagreements have already
emerged at the meeting with the US blaming fuel subsidies for the
increase in prices.
The US, China, Japan, India and South Korea also
called on oil producers to increase output in an effort to control the
prices.
OPEC has said that no decision will be made on
this until its meeting in Austria on September 9th.
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