GENERAL

US Treasury Official Says Fall in Oil Prices Would Be Welcome

A senior official of the US Treasury has reiterated the US administration's view that a further modest decline in oil prices would benefit the world economy, and has asserted that even a major fall in prices would not significantly affect non-OPEC output.

Speaking at the annual conference of the International Association of Energy Economists in Bonn on 5 June, Deputy Assistant Secretary of the Treasury Charles...