5/27, 2:00 PM (Source: TeleTrader)
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G7 wants OPEC to up oil production

Energy ministers from the Group of Seven called on the Organization of the Petroleum Exporting Countries to increase OPEC's oil production.

In a joint statement on Friday, the G7 ministers stressed that the OPEC "has a key role to play" in light of the volatility and high prices in global energy markets and the supply issues they are facing, according to the Financial Times.

G7 energy, climate and environment ministers held a meeting in Germany to discuss the situation in the sector earlier this week.

Baha Breaking News (BBN) / MS