Energy Commissioner Loyola de Palacio has called on the world’s oil-producing nations to boost output to bring down the soaring cost of fuel

Date: 07/09/00

De Palacio urged EU governments to call on the OPEC group of oil-exporting nations to increase production, warning that the world economy was vulnerable to price rises. De Palacio predicted that oil prices would remain high for the next year or so and said Union member states should adjust their economy policies accordingly.