SOVIET 1988 OIL OUTPUT TARGET AT 625 MLN TONNES The Soviet oil production target for 1988 has been set at 625 mln tonnes, a rise of eight mln tonnes over this year's planned output. Oil Minister Vasily Dinkov announced the figure on Tuesday at the Supreme Soviet, the country's nominal parliament. He said a new development strategy, fuller use of oil deposits and better housing and pay for oilmen had allowed an upsurge in the oil industry after three years of stagnation which began in late 1983. Last year the Soviet Union produced 615 mln tonnes of oil, slightly short of the target of 616.7 mln. January-September figures released at the weekend showed Soviet oil output in the first nine months of this year at 467 mln tonnes. The 1987 target is 617 million. Dinkov said the Soviet Union would develop 38 new oil deposits in the coming year. He called for speedier geolog prospecting across the country to spur the oil industry. The Supreme Soviet convened on Monday to endorse the 1988 budget and plan. The session is expected to end on Tuesday.