Stye ittosljincifon Tuesday, January 3,1984  
HOUSTON, Jan 2ÛÓAmerican oil companies are raising their exploration and production budgets for 1984, but whether they actually spend more than in 1983 depends on oil prices, according to industry analysts and suppliers.</br></br>Expenditures to find and develop new oil and natural gas reserves have declined in the past two years. Merrill Lynch estimates such outlays in the United States fell to $23 billion in 1983 from $34 billion in 1982 and $39.1 billion in 1981.</br></br>Merrill Lynch analysts forecast an upturn to $29 billion in 1984. With oil prices relatively stable since last March and expected to remain near current levels, many major and independent firms are allocating more money for exploration and production, particularly in the United States.</br></br>Gulf Oil said it planned to spend almost $300 million more than in 1983 on domestic exploration and production, in contrast to a $100 million reduction in foreign outlays.</br></br>Standard Oil of Indiana said its budget provided for increased activity in the Gulf of Mexico, where it spent $638 million to acquire leases on 130 tracts in 1983.