ANALYSTS HIKE OIL PRICE ESTIMATE FOR 1990S
Financial analysts have increased their estimated oil prices for the first half of the 1990S. Salomon Bros. Inc. and Morgan Stanley & Co., both of New York, boosted oil price expectations but disagreed on what will happen to gas prices. Salomon Bros. issued a new 5 year oil and gas price forecast with revised oil and gas price estimates significantly higher than in its previous forecasts. It forecast average prices for West Texas intermediate crude at $28.50/bbl in 1994 and $31.50/bbl in 1995.