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Article: Pacific Rim energy ministers call for measures to counter high oil prices
- Article from:
- AP Worldstream
- Article date:
- October 19, 2005
- Author:
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KELLY OLSEN, AP Business Writer
AP Worldstream
10-19-2005
Dateline: GYEONGJU, South Korea
Pacific Rim energy ministers Wednesday called for a wide-ranging response to soaring oil prices and vowed to increase cooperation with OPEC and other international organizations to improve energy market transparency and reduce price swings.
"We agreed that effective responses to high and increasingly volatile oil prices require a broad range of supply and demand-side measures," energy chiefs from the Asia-Pacific Economic Cooperation forum said in a statement at the end of a special one-day meeting in this southeastern Korean city.
Those steps include using strategic oil stocks to respond to supply ...