Jeddah meet calls for more investment, transparency

JEDDAH, Saudi Arabia (Reuters) - The final statement of the summit of oil producing and consuming nations issued on Sunday called for more investment in oil production and greater financial market transparency.

The statement also said current record high oil prices and oil price volatility was harming the world economy.

"Current prices and their volatility are detrimental to the global economy, and in particular the economies of least developed countries," the statement said.