Signals
By STAFF: Jeremy Main, Robert E. Norton, Michael Rogers, Patricia Sellers, H. John Steinbreder, Eleanor Johnson Tracy, Wilton Woods

(FORTUNE Magazine) – A group of 26 newspapers in 17 cities -- including New York's Daily News and the Boston Herald -- will slash rates for some national advertisers an average of 35% in an 18-month test arranged by Young & Rubicam, the giant ad agency. Newspapers typically charge national accounts 65% more than local accounts, which may be one reason papers have gradually lost their share of national advertising revenue to local television and radio stations. -- After studying the effects of a year of cheap oil -- about $15 a barrel or so -- the Energy Department issued a report projecting that U.S. oil production would drop in 1986 for the first time in five years. If demand continues to rise and imports continue to climb, petroleum analysts fear another oil shock.