DOHA, April 23: A major energy forum opened in Qatar on Sunday with no significant decisions expected as the United States and Iran traded blame for market tension that has pushed oil prices to record highs.
The 10th International Energy Forum was inaugurated by Qatar’s Crown Prince Sheikh Tamim bin Hamad al Thani in the presence of ministers and representatives of 56 oil-producing and consuming countries.
The forum had kicked off unofficially a day earlier with meetings between some of the world’s largest producers and the chief executive officers of several oil giants.
“Logic and interest call for the necessity of serious action to restore stability to the markets,” Sheikh Tamim said.
“The fluctuations in the markets at present are a joint responsibility that requires from all proper solutions that guarantee avoiding any future crisis or at least minimizing its impact.”
Oil prices breached a record high of 75 dollars on Friday, raising concern about its impact on world economic growth.
The powerful 11-member OPEC cartel is expected to hold informal talks on Monday on the forum’s sidelines.—AFP
