G7 seeks boost in oil production
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Officials from the world's seven largest economies urge oil producers to increase supply to bring down prices.
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WASHINGTON - Declaring that high oil prices are a threat to the global economy, the world's industrialized countries urged producers Friday to provide price relief by boosting supplies.    The Group of Seven countries - the United States, Japan, Germany, France, Britain, Italy and Canada - also resolved to agree on providing battered Iraq with relief from its massive debt burden while also working on a deal to increase debt relief for the world's poorest countries...
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High oil prices pose a risk to the  global economy, but the economic outlook for 2005 is still  favorable, the Group of Seven nations said in a statement  following their meeting on Friday.
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By Sabyasachi Mitra and Natsuko Waki LONDON  - Finance chiefs from the biggestdeveloping economies on Saturday pushed the Group of Seven (G7)industrialized nations for a seat at the high table of globaleconomic policy making.
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US Energy Secretary Samuel W. Bodman ahead of an OPEC meeting next month urged oil-producing states on Monday to pump more crude to ease pressure on prices.
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VIENNA, Austria - OPEC will increase its oil production target by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit since the beginning of the year.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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Investors urge G8 governments for more clarity on climate change policies, to better manage risks.
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target to prevent  a glut next year.
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Saudi Arabia is urging global oil stocks be increased before the world&#39;s crude oil cartel consider cutting output. Members of the Organization of Petroleum Exporting Countries
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Saudi Arabia, Kuwait and the United Arab Emirates, which account for almost half of OPEC&#39;s oil output, said they&#39;re committed to boosting capacity to meet soaring demand that has driven prices to a record.
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Declaring that high oil prices are a threat to the global economy, the world's industrialized countries urged producers Friday to provide price relief by boosting supplies.
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High oil prices pose a risk to the global economy, but the economic outlook for 2005 is still favorable, the Group of Seven nations said in a statement following their meeting on Friday.
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The United States must  diversify  its global oil supplies, expand a world network of strategic  petroleum reserves and raise fuel efficiency standards to  ensure its energy security, a panel of experts will recommend  on Wednesday.
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The International Energy Agency on Tuesday urged major Asian economies to work together to develop oil and natural gas fields in Siberia, and offered to act as a go-between.
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U.S. Energy Secretary Sam Bodman said on Saturday that Saudi Arabia should raise output to ease tightness in world oil supplies and that OPEC should up output at its February 1 meeting.
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Soaring oil prices once again  threaten to hijack Friday's meeting of finance chiefs from the  world's top economic powers, overshadowing China's debut in the  G7 spotlight.
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The G-7 meeting Saturday in Tokyo produced little immediate action, but finance chiefs pledged to foster world economic growth and support a joint effort to stop climate change