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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The Organization of Petroleum Exporting Countries wants oil prices to fall faster to an ideal price of around US$30 a barrel, and will discuss whether to increase production at a meeting next month, the group&#39;s president said Thursday.
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UK Chancellor Gordon Brown appeals for free trade as he opens talks on the world economy by the Group of Seven (G7) wealthy nations.
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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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Saudi Arabia, the most powerful member of the Organisation of the Petroleum ExportingCountries, said yesterday thatglobal oil stocks needed to increase before Opec
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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 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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Kuwait on Tuesday called on OPEC to raise official oil production quotas by a token 500,000 barrels a day to help further calm world oil markets.
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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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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 Wednesday.
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Moammar Gadhafi attempts to boost Libya's oil and gas output by bringing back a group of majors.
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Finance chiefs from the biggest developing economies on Saturday pushed the Group of Seven (G7) industrialised nations for a seat at the high table of global economic policy making.
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Finance ministers from the Group of Seven (G7) wealthy nations gather in London to discuss the global economy.
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NEW YORK, December 27  - Saudi Arabiaâs oil reserves could increase 77% to 461 million barrels in a few years, since the oil rich country continues to maintain spare capacity of two million barrels per day to help control the global
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LONDON - 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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Oil ministers of the 11-member Organization of Petroleum Exporting Countries meet Wednesday in Vienna to discuss the possibility of raising production, which could lower world oil prices.
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With the global economy under threat from rising oil prices and sharp regional growth differences, the International Monetary Fund appealed to governments to act boldly to preserve a worldwide recovery.