VOL. XXXII

NO. 50

18-SEPTEMBER-1989

OPEC

Oil Squeeze Expected in Mid-90s, Says New BP Chairman

Mr. Robert Horton, the next British Petroleum Chairman, said last week thathe "fully expects" global demand for oil to outstrip supply in themiddle of the next decade, with a resultant increase in real prices. "Ifully expect there to be a squeeze in the mid-1990s and I expect the real priceof oil to increase as a result. But I would hope the real price would increasemaybe to $20-25/B rather than $30-35/B...