EU finance ministers keep the pressure on OPEC
AFP, June, 2004
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LUXEMBOURG (AFP) — EU finance ministers meeting kept steady pressure on OPEC to pump more crude to calm soaring oil prices that threaten to setback Europe's fragile economic recovery.
Ahead of meeting of EU finance ministers, Spanish Finance Minister Pedro Solbes said: "We all acknowledge the need to increase production and to maintain contact with producer countries".
EU ministers are to hold a lunchtime discussion on the impact of high oil prices on the eurozone economy.
The comments from EU ministers come as the Organisation of Petroleum Exporting Countries gathers in Beirut for a meeting on Thursday about increasing the cartel's production with an aim to bring down prices.
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Eurozone finance ministers meeting late Tuesday voiced concern about soaring oil prices, which hit a new all-time high earlier in the day in New York, and called on OPEC to calm the market.
Warning of the impact of high ...
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