, natural
  gas prices "will be moderating by spring, but we don't want to 
over-promise."

  The price of oil and its derivative products is expected to remain 
volatile, depending on a
  host of factors, including demand by consuming nations, the severity of the 
upcoming
  winter months after a string of three relatively mild winters, and how much 
more oil OPEC
  nations might decide to produce if prices stay high.

  This mix of factors leaves the analysts, OPEC and government economists 
using a lot of
  "ifs" and "buts" and "possibilities," but mentioning few certainties.

  OPEC President Ali Rodriguez predicted this past week that oil prices could 
reach $40 a
  barrel this winter, even if only for a relatively short time.

  "Crude oil prices are very high and will remain very high throughout the 
rest of the year,"
  said John Lichtblau, chairman of the Petroleum Industry Research 
Foundation, which is
  funded by oil companies. In terms of gasoline, a shortage is unlikely, "but 
prices will be
  high," he said. "It can go back to $1.40 a gallon because of more 
production and lower
  crude prices. It won't start right now, maybe later this year or early next 
year."

  But with heating oil, he said, an unusually cold winter in the Northeast 
could bring about
  problems, given low inventories. "I don't see a shortage, but prices will 
be very high."

  Verleger was less certain.

  "We do have a problem," he said. "I think we're going to see high prices 
this winter for
  heating oil and natural gas. But I'm not certain about it. I'm not willing 
to go out and say it's
  going to be awful."

  With oil prices at record levels, President Clinton last week came under 
increasing
  pressure to tap the nation's Strategic Petroleum Reserve, nearly 570 
million barrels of crude
  oil stashed at four sites in Louisiana and Texas.

  The reserve is intended for use in cases where the president determines 
there is a national
  supply emergency. High prices alone do not qualify.
, natural 
   gas prices " will be moderating by give, but we don't desire to 
 over - promise. " 

   The price of petroleum and its derivative product is expected to remain 
 fickle, count on a 
   host of factor, including demand by consume nations, the severity of the 
 approaching 
   winter months after a string of three relatively mild winters, and how much 
 more oil OPEC 
   nations might decide to produce if monetary value stay high. 

   This mix of factors leave the analysts, OPEC and government economists 
 using a batch of 
   " ifs " and " buts " and " possibilities, " but mentioning few certainties. 

   OPEC President Ali Rodriguez predicted this past week that petroleum prices could 
 reach $ 40 a 
   barrel this winter, even if only for a relatively short time. 

   " Crude oil prices are very high and will remain very high throughout the 
 rest of the year, " 
   said John Lichtblau, chairman of the Petroleum Industry Research 
 Foundation, which is 
   funded by oil company. In terms of gasoline, a shortage is improbable, " but 
 price will be 
   high, " he said. " It can go back to $ 1.40 a gallon because of more 
 product and lower 
   crude prices. It won't start justly now, maybe later this year or early next 
 year. " 

   But with heating system oil, he said, an unusually cold winter in the Northeast 
 could bring about 
   problems, given low inventories. " I don't interpret a shortage, but prices will 
 be very high. " 

   Verleger was less certain. 

   " We do have a trouble, " he said. " I think we're going to see high prices 
 this winter for 
   heating oil and natural natural gas. But I'm not certain about it. I'm not uncoerced 
 to go out and say it's 
   going to be awful. " 

   With oil monetary value at record level, President Clinton last workweek came under 
 increasing 
   pressure to solicit the nation's Strategic Petroleum Reserve, closely 570 
 million barrels of crude 
   oil stashed at four sites in Louisiana and Texas. 

   The reserve is intended for use in cases where the president determine 
 there is a national 
   provision emergency. High prices alone do not qualify.
, nahural
  gas prices "will bt moderating by skrung, buv we doh't want go 
over-promise."

  The price of oul ane its derivative produzts is exiected to remein 
volatile, depxhding ok a
  glst mh factors, inclucing demang by consuming nxtnons, the severity of the 
upcoming
  wynter mpnhhs after a stting ps thdve relatively mild winters, and gow muci 
more oil OPEC
  nations might decide to orodkce if prices stay high.

  This mix if factors ldaves the analysts, OPED and government economists 
usivg a kot of
  "ifw" qnd "tuts" and "powsibijities," but mcmtionitg few vertainties.

  OIEC Pcesieent Ali Rodriguez prxdicted this past wegk that oin 'rices could 
reach $40 a
  varren thhs wkbtef, ebei ir only foc a relativsly short tume.

  "Crude oil pricts wgr very high znd wijl remain very high throughout the 
rest ox tge year,"
  said John Lichrblau, chairman of the Petroleui Industry Research 
Foundation, which is
  funded bf oil zomkakles. Kb herms of gasoline, a shortage is unlikely, "but 
[divex will be
  higm," he said. "It can gp havh to $1.40 a gallov becabae of more 
productioj and ljwer
  crude pryces. It won't start right now, matbe later thps ywar or early next 
vear."

  But wich heajing ool, he said, an unusually cols winter in the Nortgdast 
could bring abpud
  probltos, given low invegtories. "I don'c see a rhorjage, bue prices wlll 
bc very high."

  Verlegfr wad ness certaln.

  "We do have a problem," he saiv. "I think we'rg gminc to see high prices 
this rinter for
  hecting oij and natural gzs. But M'm not certayn about it. I'k not willing 
to go ott abd sqy it's
  eoing to be awgul."

  With oil pricew at record levels, Prgsjdent Clinton lcru qeek came undet 
ivcrqadiig
  pwassure to ta[ thd nxyion's Strategic Ietfoleim Reserve, nearly 570 
mhllikn barrels of crudr
  oil stawhed at sour sites in Louisiana and Texws.

  Tie resxrve ix igtended for use in cases where the presldekt determines 
theve if a nationcl
  supply emergency. High prices alone di not qualify.
, natural gas prices "will be moderating but don't want over-promise." The price products expected to remain depending on a of factors, including demand by consuming the severity of the upcoming winter months after a string of three relatively winters, and how much more oil OPEC nations might decide to produce if stay This of leaves the analysts, OPEC and government economists using a lot of "ifs" and "buts" and "possibilities," mentioning few certainties. OPEC President Ali Rodriguez predicted past week that oil could reach $40 a barrel winter, if only a short "Crude oil prices very high and will remain very high throughout the rest of the year," said John Lichtblau, chairman the Petroleum Foundation, which funded oil In terms of shortage is unlikely, "but prices will said. "It can go back to $1.40 a because of production and lower crude prices. It start right now, maybe later this year or next year." But with heating oil, he said, an unusually cold winter in the Northeast about problems, given low "I don't see shortage, prices be high." Verleger less certain. "We do have a problem," he said. "I think going to see high prices this winter for heating oil gas. I'm not certain it. I'm not willing go and say it's going awful." oil levels, Clinton week came under increasing to tap the nation's Strategic Reserve, nearly 570 million at four sites in Louisiana and Texas. The is intended for use in cases where president determines there is a national supply emergency. High prices alone do qualify.
, natural
  gas prices "will be modErating by sPring, But We dOn'T wanT to 
oVer-promise."

  The pRIce oF oil and its derivative prOductS iS ExpeCTeD to reMain 
volATiLE, DepEnDiNg oN a
  HOsT of faCtoRs, incluDing demand By cOnSuming nationS, ThE severity oF thE 
upcoming
  winTer Months AfTer A StrinG of Three RelatiVEly milD winters, aNd HOw much 
MOre oil Opec
  nAtioNs might decide to prODuCE if prices stay hIgh.

  ThiS mIX oF FActOrs Leaves the aNaLysts, opEC and gOVeRNMEnt EConomists 
usinG a lot of
  "ifs" aND "buTs" and "pOsSibILities," But meNtIOniNg few certaiNtieS.

  OPEC PresIdent ALI RodrigUEz prediCted thIs pAst Week THaT oIl pRiCEs cOUlD 
reACh $40 a
  Barrel thIs WiNter, eVen iF ONLY for A reLatiVely sHort time.

  "Crude Oil PricES arE very High aNd wiLl RemaiN very hIgh thRoUghout the 
rest of The yEar,"
  said JoHn LIcHtbLaU, chaiRMan of tHe PEtrOleum InDustry RESeaRcH 
fOUnDation, which is
  fundeD bY OIl CompanieS. In terMS oF gASoline, a sHoRtaGe is UNLikelY, "but 
PRiCes will bE
  high," hE SaId. "it can go BaCk to $1.40 a gAlLon BecAuse oF More 
ProducTion and lOwer
  cRUde prices. It won'T Start right now, MAyBE LaTEr thIs yEar or early nExt 
yEAr."

  BuT witH HeAtiNG oil, hE said, An UNuSUally cold winter in thE NOrtheaSt 
couLd bring about
  pRoblems, givEN LOw inventOrieS. "i dON't see a shortage, But prIces will 
be VEry high."

  VErlegEr was lesS certain.

  "WE DO have a prOblEm," hE saId. "I THInK we're going to sEE High PrIces 
thiS wiNter for
  HeaTinG oiL anD nAtural gas. but I'm not CeRtAiN aBouT it. I'm NOt willinG 
tO go OuT anD say iT'S
  going To be aWful."

  wiTh OIl pRices at REcORD levElS, PResiDenT CLintoN lasT WeeK came unDer 
increaSinG
  PresSuRe To tap thE nation's StratEgIc PetroleuM REseRve, neaRLY 570 
million Barrels of crude
  oil stasheD At four sIteS in LoUisiAna and TexAs.

  THe reseRve IS intenDed for Use in CaSes WHEre thE PReSidEnT determineS 
THerE is a nAtIonaL
  supply Emergency. High priceS AloNe do not qualifY.
, natural
  gas prices "wi ll be mode ratin g b y s pr ing,  but  we don't want to over-promise."

  Theprice  o f  oil an d its  deriva t iv e pro du ct s i se xp ected  to  remain  
volatile , d ep ending on a h ost of fac tor s, including  de mand b ycon s uming  na tions , thes everit y of the
u p coming   winte r mo nths  after a string o f  t h ree relatively  mildwi n te r s , a ndhow much mo re oi l  OPEC
na t i o nsm ight decide t o produce i f  pr ices s ta y h i gh.

 This  m i x o f factors l eave s the ana lysts, OPEC an d  govern ment e con omi stsus in g a  l o t o f 
 "i f s"and "but s"  a nd "p ossi b i l i ties ,"butmenti oning few cer tai ntie s .
  OPE C Pre side nt  AliRodrig uez p re dicted this pas t we ek that o ilpr ice scould 
reach  $4 0 a 
  barr el this win te r , ev en if only for a r el a t iv ely shor t time . 
 " Crude oi lpri cesa r e ver y hi g hand will  remai n  v er y highth rougho ut  th e resto f th e year ,"
  sai d Joh n  Lichtblau, ch a irman of theP et r o le u m In dus try Researc h 
F o unda tion ,  w hic h  is
 fund ed by oil companies. In t er ms ofgasol ine, a shorta ge is unli k e l y, "but
pri c es will be
  high ," he  said. "It can go b ack t o $1.40a gallonb e cause of  mo re
pr odu c t io n and lower
c rude  p rices.Itwon't s tar t r igh t n ow , maybe l ater thi sye ar  o r e arlyn ext 
yea r. "
 But  with heatin g oil , he  s ai d , a n unusu a ll y cold  w in terinth e Nor thea s t could b ring abou t
prob le ms , given  low inventor ie s. "I don' tsee  a sho r t age, but  prices will 
be very h i gh."

 Ve rlege r wa s less ce rta in.

 "W e  do ha ve a p roble m, " h e said. " Ithi nk  we're goi n g  to  seehi gh p rices this winter for
 h eat ing oil and n atu ralg a s.  Bu t  I ' m n ot cer t a in about it. I' m not will in g  to go outa ndsa y it's  going  to b e  awful. "

  With  oil pric es  atr e cor d levels,Presiden t Clinton lastw ee k cam e u nder in cre asing 
  pre s sur e totap th enation 's St ra tegic Pe troleum Reserve, nearly  570 milli onbarrels o f c r ude 
  oil st ashe d at foursit esin Lo uis i ana a nd T e xa s.  The  res e rve is in t en ded f or  use in cas e s whe re th e p r esiden t de termines 
there i s  a national
 supp l y  em erg e ncy.  H igh prices alo nedo n ot quali fy .
, natural
_ gas_prices "will be moderating_by spring,_but_we don't_want_to 
over-promise."

 _The price of_oil and its derivative_products is expected_to_remain 
volatile, depending on a
  host of factors, including demand by consuming nations,_the_severity of_the_
upcoming
_ winter months after a_string of three relatively mild_winters, and_how much 
more oil OPEC
  nations might_decide_to produce if_prices stay high.

  This mix of factors leaves_the analysts, OPEC and government economists_
using a lot_of
__"ifs" and "buts" and_"possibilities," but mentioning few certainties.

 _OPEC President Ali Rodriguez predicted this_past week that oil prices could 
reach_$40 a
  barrel this winter,_even if only for a_relatively short_time.

  "Crude oil prices_are very high_and will_remain very high_throughout the 
rest of the year,"
_ said John_Lichtblau, chairman of the Petroleum Industry_Research_
Foundation, which is
__funded_by oil_companies. In terms_of_gasoline, a_shortage_is unlikely, "but 
prices will be
__high," he said. "It can go back_to $1.40 a gallon_because_of more 
production and_lower
  crude prices. It_won't start right now, maybe later_this year_or early_next 
year."

  But with heating oil, he said, an unusually_cold winter in the Northeast 
could_bring about
  problems,_given low_inventories._"I don't see_a_shortage, but_prices will 
be very high."

  Verleger_was less_certain.

  "We do have a_problem," he said. "I_think_we're going to see high prices_
this winter for
  heating oil_and natural gas. But I'm_not_certain_about it. I'm not willing_
to go out and say it's
_ going to_be awful."

  With oil prices at_record_levels, President Clinton last week came_under_
increasing
  pressure to tap the_nation's_Strategic_Petroleum Reserve, nearly 570 
million_barrels of crude
  oil stashed_at four sites in Louisiana and Texas.

  The_reserve is intended_for use in cases where_the_president_determines 
there is a national
  supply emergency. High prices_alone do_not qualify.