Unocal put its capital spending cut at 20%.
Clarifying an earlier statement, the Los Angeles-based oil firm said declines in the price of oil have prompted it to reduce its 1986 spending on exploration and production to about $1.2 billion. Unocal spent $1.85 billion last year and until recently planned to spend $1.5 billion this year, Chairman Fred L. Hartley said.
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