Statement by G8 leaders on global oil markets

Sat May 19, 2012 11:25pm IST

Leaders walk to the family photo session at the G8 summit at Camp David, Maryland May 19, 2012. From L-R: Italy's Premier Mario Monti, Britain's Prime Minister David Cameron, German Chancellor Angela Merkel, U.S. President Barack Obama, France's President Francois Hollande, Canada's Prime Minister Stephen Harper, Japan's Prime Minister Yoshihiko Noda, Russia's Prime Minister Dmitri Medvedev and European Commission President Jose Manuel Barroso. REUTERS/Philippe Wojazer

Leaders walk to the family photo session at the G8 summit at Camp David, Maryland May 19, 2012. From L-R: Italy's Premier Mario Monti, Britain's Prime Minister David Cameron, German Chancellor Angela Merkel, U.S. President Barack Obama, France's President Francois Hollande, Canada's Prime Minister Stephen Harper, Japan's Prime Minister Yoshihiko Noda, Russia's Prime Minister Dmitri Medvedev and European Commission President Jose Manuel Barroso.

Credit: Reuters/Philippe Wojazer

Related Topics

REUTERS - Following is the text of a statement on global oil markets from the Group of Eight leaders gathered at the presidential retreat in Camp David, Maryland. The text was issued by the White House.

There have been increasing disruptions in the supply of oil to the global market over the past several months, which pose a substantial risk to global economic growth. In response, major producers have increased their output while drawing prudently on excess capacity. Looking ahead to the likelihood of further disruptions in oil sales and the expected increased demand over the coming months, we are monitoring the situation closely and stand ready to call upon the International Energy Agency to take appropriate action to ensure that the market is fully and timely supplied.

(Editing by Bill Trott)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Climate Change

Climate Change

Climate change to cut South Asia's growth 9 percent by 2100 - ADB.  Full Article 

Ballmer Exits

Ballmer Exits

Ex-CEO Ballmer quits Microsoft board to focus on NBA's Clippers  Full Article 

Bribery Investigation

Bribery Investigation

Owed $6 billion, banks sharpen scrutiny of steelmaker Bhushan  Full Article 

Deal Talk

Deal Talk

JSW to buy Welspun Maxsteel for enterprise value of $165 million.  Full Article 

Needless Spending

Needless Spending

Exclusive - Icahn says Family Dollar wasting over $300 mln in breakup fees .  Full Article 

Luring Customers

Luring Customers

With cigars and crystal, Volvo makes eyes at Chinese rich.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage