Energy ministers discuss fears of soaring oil prices
08 June, 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.