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PARIS, Nov 10: Oil producing countries should increase both their production and exploration capacities to tackle a surge in oil prices, French Economy Minister Christine Lagarde said on Saturday. Speaking after a meeting with oil producing and distributing firms, Lagarde said she wanted the issue discussed at a meeting of EU finance ministers on Monday in Brussels and at a G20 meeting in South Africa at the end of next week.
“We are currently in a market where demand is extremely strong and will remain strong ... and where the supply is stretched,” she told a news conference.—Reuters
