OPEC

Hodel Sees Prices Rising to $33/B in 2000

US Energy Secretary Donald Hodel has forecast that oil prices will rise significantly in future, reaching a level of around $33/B by the year 2000. Mr. Hodel told the Senate Energy Committee that "I do anticipate a significant increase," adding that $33/B in 2000 "is not unreasonable." He also expressed concern about the decline in domestic exploration in the US, urging Congress to approve exploration in the Arctic National...