Opec pressured over oil prices

Oil ministers from the Organisation of Petroleum Exporting Countries (Opec) are meeting for pivotal talks on boosting oil production amid an international outcry over soaring prices. In the last week, the price of oil has hit a 10-year high of $34 per barrel. Protests against the high price of fuel are coming to an end in France, where action by truckers and farmers brought the country to a virtual standstill. Similar, though less widespread, protests are continuing in Britain. European Union finance ministers on Saturday called for a boost in output to bring fuel prices down. "Ministers call on Opec to implement measures to ensure that market supplies are better adapted to the global economic situation," said a statement issued by EU finance ministers in Versailles, France. Calls for decisive action from Opec have also come from US President Bill Clinton, UN Secretary-General Kofi Annan and the Asia-Pacific Economic Cooperation forum.