OPEC AND OIL PRICES

Signs of Change in US Attitude towards OPEC

Remarks last week by the US Energy Secretary, Mr. John Herrington, would appear to indicate that the US has replaced its vociferous opposition to OPEC's market stabilization campaign with at least tacit recognition that stable prices are in everyone's interest, and that the US may finally be coming to terms with the ineluctable growth of world dependence on oil from the Gulf.

Speaking in Paris where he was attending...