OGJ NEWSLETTER

As OPEC members last week began wrangling over production cuts to avoid a near term price collapse, signs have continued to point to a climate of low oil and gas prices for the foreseeable future. Salomon Bros. has cut its forecast of oil and gas prices for 1992. It now sees average WTI price at $18.50/bbl, a drop of $1.50, and gas at $1.40, down 100 and the second cut in a month. Salomon Bros. thinks the Saudis will risk oil prices sliding past $15 in the second quarter rather than cut

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