High Oil Prices Dominate G-7 Meetings

By HARRY DUNPHY, Associated Press Writer

WASHINGTON – Concern that rising oil prices could harm the global economy dominated weekend meetings of world finance ministers and central bankers who gathered after Wall Street plunged to new lows for 2005.

There were intense talks about the energy situation at both the meetings of the Group of Seven major industrialized countries and the policy-making committee of the 184-nation International Monetary Fund on Saturday.

Oil was expected to be a key subject of concern when the spring meetings end Sunday with a session of the steering committee of the World Bank, the IMF’s sister institution and Washington neighbor.

Statements by the G-7