According the report, the rising oil prices indicate ______.

Britain is calling for concerted international action to bring down the price of oil and to ensure future global supplies of fuel.  The British Chancellor of the Exchequer Gordon Brown said demand was outstripping supply, pointing our that China’s growing economic and manufacturing power meant that it alone now consumed 10% of the world’s oil production. Here is our political reporter N. G.
     The British Chancellor of the Exchequer Gordon Brown believes rising oil prices are a classic case of demand outstripping supply, a problem made all tile more urgent because of the growing economies of Asia. So now he is asking OPEC to increase its production to meet that demand. In a speech to Britain’s Trade Unions he said global action was needed to bring down the price of oil and stabilize the market for the long term. Mr.  Brown also called for more transparency about oil reserves to avoid speculation on the international markets.