WASHINGTON (Reuters) - The U.S. economy is in a "danger zone" with respect to near record-high crude oil prices and OPEC needs to boost its production to avoid shortages, U.S. Energy Secretary Sam Bodman said on Thursday.
High U.S. oil prices can no longer be justified by tight U.S. refinery capacity, and it would be "useful" for both OPEC and non-OPEC suppliers to boost their production, Bodman told reporters.
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