South Korea’s Bahk Calls for G-20 to Address High Oil Prices
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South Korea, the world’s fifth-largest oil importer, urged the Group of 20 Nations to address the increase in crude prices to help keep the world economy on a recovery track.
“In our upcoming meeting, I would like to especially ask for your stronger resolve to address the problem of persistently soaring oil prices,” Finance Minister Bahk Jae Wan wrote in a letter to financial chiefs, released ahead of their Washington meeting next week. “The G-20 is an ideal group to come up with ways to stabilize the international oil markets,” he wrote.