OGJ NEWSLETTER

Soviet plans to halve oil exports this year will give support to oil prices otherwise softened by a glut of OPEC oil. Soviet oil exports will plunge to 1.2 million b/d in 1991 from 2.5 million b/d in 1990, President Gorbachev says, citing declining production caused by a shortage of spare parts for shoddy Soviet oil field equipment (OGJ, Mar. 11, p. 26).