Brown calls for oil market transparency; reveals investment plans

UK prime minister Gordon Brown has today called for increased transparency in the global oil markets, and revealed a series of international energy investment initiatives.

Speaking at the emergency oil summit in Jeddah, Brown stated that there was a common understanding among major energy producers and consumers that “oil demand is rising faster than supply...and that there is today too much uncertainty and volatility”.

Brown called for the “clear signalling of current and future supply and demand from both oil producers and oil consumers; transparency means a reinvigoration of our commitment to ensure that wherever there are shortages and gaps they are addressed