G7 Countries: Oil Prices Threat to Economy
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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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Tight oil supplies could leave the global economy worryingly vulnerable for years to come, a senior International Monetary Fund official said on Thursday.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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Washington, Sept. 30.(UNI): The expansion of the global economy could hit a 30-year record in 2004 but will likely slide in 2005 as a result of higher oil prices and other factors, the International Monetary Fund (IMF) sources said.
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Global oil prices are set to cool although not rapidly and not to levels seen in the 1990s, the Organisation for Economic Cooperation and Development (OECD) says.
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ESSEN, Germany  - The G7 industrial powers, under pressure to address a decline of the yen, warned investors on Saturday that they could get burned betting in one direction when Japan's economy was continuing to strengthen.
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The International Monetary Fund yesterday issued a warning that record oil prices will stunt the growth of the global economy next year and oil prices are likely to remain high for 10 years or more.
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Finance chiefs from the biggest  developing economies on Saturday pushed the Group of Seven (G7)  industrialized nations for a seat at the high table of global  economic policy making.
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Germany's economy could be seriously damaged by further increases in oil prices, the central Bundesbank said Monday.
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Business & money: Â· IEA attacks countries with tight grip on production  Â· Demand for gas and oil growing faster than ever
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Tearaway world oil prices, toppling records and straining wallets, present a new economic menace barely three months before the US presidential elections.
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BRUSSELS The European Central Bank warned Thursday that the soaring price of oil had hurt prospects for economic recovery in the euro zone.
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As record high prices raise concerns about future supplies of oil, the International Energy Agency, in a new report, stressed the need for oil-producing countries and international
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Darling warns of world 'turbulence' after anxious G7 debate
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The Group of Seven industrial nations called on oil-producing states to provide ``adequate supplies&#39;&#39; and Asian nations to loosen currency pegs to help sustain the strongest world expansion in three decades.
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The world's top finance officials on Friday asked oil-producing nations to step up output and agreed it was crucial to work out exactly why prices have soared to levels that threaten global growth.
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The IMF, World Bank and G7 finance ministers will say that the world economy has a vibrant heartbeat when they meet next week in Singapore, but tremors are present in the form of slowing US growth and high oil prices.