At the end of two day International Energy Forum at Cancun in Mexico, leaders of 66 oil producing and consuming nations have called for transparent energy markets. Showing a rare harmony, they made stability in oil prices their common goal. A joint declaration adopted said energy markets should be as transparent as possible to enable their efficient and effective operation. It further said improved market related data should facilitate better understanding of market price behaviour and appropriate regulatory responses.New Delhi has been since 2006 highlighting the role of speculators in oil trade saying paper transactions, which numbered many times actual supplies changing hands, was behind the surge in crude oil prices.
News On AIR | April 1, 2010 11:48 AM
Leaders of oil producing & consuming nations call for transparent energy markets