INDUSTRY TO STEP UP E&P SPENDING
Salomon Bros.' survey shows that more than 200 companies have schedules a combined 10.5% jump in upstream outlays this year. U.S. operators expect higher oil prices, as well as better match between gas supply and demand. Solid increases in world exploration and production spending are in store for 1990. More than 200 companies plan a combined 10.5% hike in E&P spending compared with 1989 outlays, an annual survey by Salomon Bros. Inc., New York, shows.