OECD ministers “worried by oil prices” – Persson

(AFX) Swedish prime minister Göran Persson, who is chairing a two-day OECD meeting in Paris, said ministers have expressed concern about volatile oil prices.

“Concern was raised… over the impact that unstable oil prices has on energy investment patterns,” Persson told reporters after the first day of the meeting.

He said ministers were also worried by global imbalances, widening deficits and weak economic growth.

“On the economic side, many ministers pointed to the problems of persisting external and internal imbalances and the need for a better distribution between growth and savings,” he said.

“Many recognised that fiscal deficits as well as weak economic development remain key challenges,” he said.