Oil prices at current record levels will have some negative impact on the economy and all levels of society.

If fuel prices had not risen to record levels, we would have achieved it.

In the event of prices remaining at current levels, (OPEC ministers) should be prepared to take the necessary steps to raise output,

The high oil price can't be ignored and it is starting to have a negative impact on consumption in the U.S.. Oil will remain the biggest risk for the stock market.

Shell is profiting from the current high oil prices, but we are all paying the price. Oil companies must be forced to face up to their wider responsibilities - on climate change, on the environment and on human rights.

oil had a measurable impact on prices paid before the storm (Hurricane Katrina). Given the fact that we are now seeing energy supply interruptions the prices paid index will almost certainly be back above 70 next month, and it's very likely the headline index will fall further on weakness in both production and orders.