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G8 leaders express "strong concerns" about oil price rise
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14:14, July 08, 2008

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Leaders of the Group of Eight (G8) nations on Tuesday expressed "strong concerns" about the sharp rise in oil prices, which poses risks to the global economy.

Concerted efforts are needed to address the underlying causes for benefit of all, the leaders said in a statement released after the working session of the G8 summit.

"Therefore, we need to improve collection and timely reporting of market data on oil and develop shared analysis of oil market trends and outlook," they said.


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