It was revealed that parallel to the meeting there were many parallel meetings of groups opposed to the policies of economic superpowers, they require developed countries fulfill their promises to the poorest countries, especially in Africa. As reference was made, an important aspect of analysis of the issues addressed by the Group of 8 is related to the ongoing effects of oil prices (which we have discussed in other publications) In this regard, it is public knowledge that the G8 finance ministers remain divided on where to find the causes of rising oil prices. United States and United Kingdom attribute the price increase to the growth of global demand, while France, Germany and Italy blame speculation.
But as recorded spanish.peopledaily.com.cn, experts warn that the weak dollar is partly responsible for the escalation of oil prices, as investors rush to buy commodities like oil to hedge against inflation and make sure value to the stock market beaten. The president of the Organization of Petroleum Exporting Countries (OPEC) Chakib Khelil said. that in addition to the devaluation of U.S. dollar and inflation, the geopolitical context, with the tension between Iran and the West, and the impact of bioethanol, which can reduce the production of diesel, have also contributed to rising prices. In its annual report on the oil market over the medium term, the International Energy Agency said that oil markets will remain tight in the medium term but rising prices and slowing economic growth undermine demand rising. As global economic growth relies heavily on cheap energy, the increase in fuel prices and food prices has overshadowed sustainable growth.