G7 Wants More Oil Info, Cites Growth Risk
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The world's top economic leaders  Friday asked oil producers to pump more crude and demanded  better market data to determine why oil costs have roared to  levels that imperil the best growth prospects in 30 years.
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"Growth will slow down, due to increased global risk"  Germany's economy minister and a leading economic institute said Wednesday they expect 2008 growth to cool amid rising food and oil prices and fallout from the U.S. subprime mortgage loan crisis.Economy Minster Michael Glos was quoted by the mass-circulation Bild daily as saying the government was scaling back its forecast for 2008 to just under 2 percent. He did not give an exact figure.The Berlin-based DIW economic institute said it expected gross domestic product to expand by 2.1 percent in the coming year, following growth of at least 2.4 percent in 2007. Read more
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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.
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Fifteen months ago, key members of the Organization of the Petroleum Exporting Countries said that the steep price of oil, about $70 a barrel, was a concern because it might endanger global economic growth -- and stifle global demand for oil.
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A statement from the Group of Seven rich nations on foreign exchange due later on Saturday will have very similar wording to the communique adopted last year in Boca Raton, Florida, a G7 source told Reuters.
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The world's leading industrial  countries are enjoying strong growth but face the risk of  rising inflationary expectations, tight energy markets and  spreading protectionism, a draft communique of the Group of  Seven rich nations says.
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Investors urge G8 governments for more clarity on climate change policies, to better manage risks.
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Darling warns of world 'turbulence' after anxious G7 debate
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The International Monetary Fund warns that rising oil prices might slow down worldwide economic growth.
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Group of Seven leaders are worried about high oil prices derailing the global economy, but have little means to influence the marketplace, analysts say.
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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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The global economy is set for another   year of strong growth, the International Monetary Fund said on   Thursday, but it warned that rising inflationary pressures and   a U.S. economic downturn posed growing dangers.
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The world's leading industrial   countries are enjoying strong growth but face the risk of   rising inflationary expectations, tight energy markets and   spreading protectionism, a draft communique of the Group of   Seven rich nations says.
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Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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OTTAWA - World economic growth will be at risk next year if oil prices remain near all-time highs well into next year, the Conference Board of Canada said Friday.
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The global economy is set for another   year of strong growth, the International Monetary Fund said on   Thursday, but it warned that rising inflationary pressures and   a slowing U.S. economy were growing dangers.
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OPEC has stressed its view that high oil prices were a result of speculation and pledged to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.