ARCO Chairman Lodwrick M. Cook told New York security analysts last week his company expects crude oil prices to remain within current ranges during the long run despite an expected increase in production by members of the Organization of Petroleum Exporting Countries. Referring to a 1988 ARCO forecast that prices for West Texas intermediate crude will continue to hover at about $18/bbl adjusted for inflation-that's $20/bbl in 1990-Cook said, "We are not raising our long range price forecast even though we are raising our forecast of volume calls on OPEC oil. "Our fundamental belief is that there are plenty of oil resources in Saudi ...

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