crude oil prices

The great concern now is the surging of crude oil prices in recent months. OPEC reaction to this is of great concern to world nations. Rich oil producing countries cannot abdicate their responsibility by saying that only market forces are determining the oil prices. It should be noted with great concern that high crude prices will push developing counties to the brink. Therefore, these countries should put a cap on oil prices and also increase the production of crude oil. G8 countries and UN should influence these nations in this direction.