VOL. XXX

NO. 4

03-November-1986

OPEC AND OIL PRICES

Herrington Warns against OPEC Dominance, Calls for Consumer Stockbuild

US Energy Secretary John Herrington has admitted that the collapse inoil prices is leading both to increased US dependence on imported oil and toworld dependence on OPEC, and has urged an "energy call-to-arms" bythe consuming countries to meet "the renewed challenge of OPEC."

In a hard-line speech on 24 October at the Oil and Money conference organizedby the International...