OGJ NEWSLETTER

The crystal ball gazers are at it again, trying to divine the direction of oil prices in 1993. Kidder Peabody, New York, says if OPEC cuts production by even 1 million b/d vs. the promised 1.7 million b/d for a quarter, WTI will touch $24/bbl. OPEC production for March may be down by 1 million b/d, claims Petrologistics, Geneva. It estimated OPEC's output cut the first week of March at a surprising 2 million b/d, to 23.4 million b/d-when WTI and Brent reached 5 month highs.

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