INDUSTRY TO TRIM SPENDING IN U.S. DURING 1992

Robert J. Beck Economics Editor Joan Bonfield Biggs Statistics Editor The petroleum industry plans to cut U.S. capital and exploration spending in 1992 after boosting outlays the past 2 years. Oil & Gas Journal's annual capital expenditure survey shows U.S. companies plan to spend $32.5 billion on domestic projects this year, compared with $34.6 billion in outlays in 1991. Capital s ending in 1991 was up a modest 1.7% from 1990. And 1990 spending posted an increase of 15.7% from the year

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