OPEC AND OIL PRICES

API Head Says Proposed US Moves Will Help OPEC 

Proposed changes in US tax laws, coupled with government plans to close a number of areas to oil exploration, mean that the US is almost cooperating with OPEC in restoring the Organization's control over the world oil market, according to the President of the American Petroleum Institute (API), Mr. Charles Dibona.

Speaking to reporters in Washington on 7 February, Mr. Dibona said that the present fall in oil...