OPEC and OIL PRICES
Herrington Warns of Return to Dependence on OPEC
The US Energy Secretary, Mr. John Herrington, has warned that low oil prices could threaten the security of US energy supplies and has called on the consuming countries to take action to prevent OPEC from regaining control of the oil market.
In a speech in Vienna on 25 September, Mr. Herrington said that "oil consumption, prompted by cheaper oil prices, is rising, and rising dramatically. Oil exploration and...
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