G-8 Ministers Warn of Wider Risks From Tight Oil Supply

Finance ministers from the world’s richest countries and Russia said Saturday that “high and volatile” energy prices posed a risk to global economic growth that otherwise appeared solid.

With booming growth in China and India absorbing oil, attention has been focused on the effect of rising demand in pushing up oil prices. The Group of 8, a club of the world’s richest capitalist democracies and Russia, meeting Saturday in an icy, mist-covered Moscow, focused instead on the extremely tight supply around the world.

nytimes