Enough energy supplies to meet global demand: G20

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WASHINGTON, Apr 16 (AFP): The Group of 20 leading economies said Friday that despite the push upward on energy prices from unrest in the Arab world and Japan's earthquake disaster, energy supplies were enough to meet global demand. "Events in some Middle East-North African countries and in Japan have increased economic uncertainty and tensions in energy prices," the G20 said in a statement following a closed-door meeting in Washington. "We noted there is adequate spare capacity to meet global energy demand," they said on the sidelines of the International Monetary Fund and World Bank annual spring meetings. Rising and volatile food and energy prices have been a key theme of the meetings this week. Oil and food prices are dangerously climbing back toward peaks seen during the 2008 global financial crisis. The powerful group of advanced and emerging economies noted that commodity prices face increasing pressures and particularly applauded the work of international organizations to address excessive price volatility in food and agriculture markets. "We look forward to receiving their final recommendations, including on risk management and mitigation tools," said the G20, headed this year by France.