G-8 on oil crisis
Group of Eight energy ministers looked inward for solutions to record oil prices on Sunday, touting the need for domestic efficiency rather than piling pressure on a resistant OPEC to pump more crude.
Oil prices posted their biggest ever one-day surge on Friday, leaping more than $10 to a record high above $139 a barrel CLc1.
Soaring oil costs dampen global economic growth, worsen inflationary pressure and raise the risk of more protests by fishermen, truck drivers and others whose livelihoods are under threat.