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Oil powers agree prices too high
The world?s top oil producers and consumers now agree that oil prices hovering near a $140 a barrel record are too high, signalling a change of heart by producers. ?What we?ve got here... is agreement that the oil price is too high,? British PM Gordon Brown told a briefing on the sidelines of emergency talks in Jeddah, where leading energy policy makers and executives are discussing measures to tame the oil price. When those stakeholders met in April, with oil prices around $120 a barrel, there had been no such public agreement with those prices. But Saudi Arabia has boosted output in June and promising an increase in July to 9.7 million bpd, its highest rate in decades.
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