Germany calls for transparent oil prices

Schroeder: Oil prices must become transparent

28 February 2005

RIYAHD – German Chancellor Gerhard Schroeder has kicked off a Middle East tour by urging further Saudi reform and reiterating his wish to see more transparency in oil prices, including in the speculation of markets.

Speaking at a business forum in Riyadh Schroeder said that a topic at the upcoming G8 summit of industrial nations in Great Britain will be how information can be better exchanged over oil “supply and demand”.

As a reliable supplier and exporter of oil Saudi Arabia has a special responsibility, and has thus far done well in its role as the world’s most prominent oil exporter, according to

Schroeder.

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