German Chancellor Merkel has called for steps to ensure more oil production and supply stability and said she will push at this year's G8 summit for a common approach to combat rising global food prices.
Speaking after meeting with Japanese Prime Minister Yasuo Fukuda in Berlin on Sunday, June 1, Chancellor Angela Merkel said she was worried by runaway oil prices, which have sparked growing anger and a wave of strikes at European ports and refineries, and called for greater transparency in the oil market.
 
"I will support anything that moves in the direction of more transparency in terms of the trade and supply of oil," Merkel said.
Oil prices have shot to more than $130 (83. ... Read full article