The energy ministers of the world’s leading industrial nations on Friday urged OPEC to increase oil supply amid high oil prices that are hitting consumers and threatening an economic slowdown.
“We call on oil and gas producing countries to act in a responsible manner and to respond to tightening international markets, noting that Opec has a key role to play,” the G7 energy ministers said in a communique, carried by the Financial Times, at the end of a two-day summit in Berlin.
The energy ministers of Canada, France, Germany, Italy, Japan, the UK, and the U.S. also noted that the European Union needs to cut its heavy reliance on Russian natural gas as a matter of “special urgency.”