EU willing to work with OPEC on oil prices

ROME - As the oil price spikes to nearly $100 a barrel, EU commission President
Jose Manuel Barroso says he willing to work with the OPEC to make the oil market more transparent.


Barroso also stated that he believes in the dynamics of the free market and pleads for the oil prices to be revealed instead of regulated. "We resist regulation. We believe in markets," Barroso told journalists at the World Energy Congress in Rome.

Last week, Abdullah al-Badri, the Secretary General of the OPEC, said he wanted more rules and regulations to prevent oil speculation contaminating the normal supply and demand dynamics.

- By Peter Fijbes-