VOL. XLII

No. 14

5-April-1999

OPEC

US Reaction To OPEC Supply Cutback Agreement

In a statement issued in Washington on 23 March by the US Department of Energy as a reaction to the oil production cutback agreement signed by the OPEC members in Vienna on the same date, Energy Secretary Bill Richardson declared that "the United States believes that the forces of supply and demand operating in competitive markets should dictate the price of oil and we do not support measures aimed at manipulating the...