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Title: World petroleum outlook: statement before the Committee on Energy and National Resources of the United States Senate. [Monograph]

Abstract

The current world oil situation is exerting a shock on producers rather than consumers as production continues a three-year decline of 16.5%. The OPEC nations are experiencing most of the shock, while non-OPEC production increases. The drop in world demand for oil is due to price-induced conservation efforts, a general worldwide recession, and surplus inventories. The lower prices that have followed are not likely to continue because the recession and high-inventory factors are ready to turn around. World demand will probably rise at a slow, but steady rate, with OPEC probably surviving as an effective price-setting cartel. Saudi Arabia will have to assist the weaker nations to keep them within OPEC price-and-quota regulations. (DCK)

Authors:
Publication Date:
OSTI Identifier:
5206586
Resource Type:
Book
Country of Publication:
United States
Language:
English
Subject:
29 ENERGY PLANNING, POLICY AND ECONOMY; 02 PETROLEUM; PETROLEUM; FORECASTING; GLOBAL ASPECTS; MARKET; OPEC; SUPPLY AND DEMAND; ENERGY SOURCES; FOSSIL FUELS; FUELS; INTERNATIONAL ORGANIZATIONS; OIL-EXPORTING COUNTRIES; 294002* - Energy Planning & Policy- Petroleum; 020700 - Petroleum- Economics, Industrial, & Business Aspects

Citation Formats

Lichtblau, J H. World petroleum outlook: statement before the Committee on Energy and National Resources of the United States Senate. [Monograph]. United States: N. p., 1982. Web.
Lichtblau, J H. World petroleum outlook: statement before the Committee on Energy and National Resources of the United States Senate. [Monograph]. United States.
Lichtblau, J H. 1982. "World petroleum outlook: statement before the Committee on Energy and National Resources of the United States Senate. [Monograph]". United States.
@article{osti_5206586,
title = {World petroleum outlook: statement before the Committee on Energy and National Resources of the United States Senate. [Monograph]},
author = {Lichtblau, J H},
abstractNote = {The current world oil situation is exerting a shock on producers rather than consumers as production continues a three-year decline of 16.5%. The OPEC nations are experiencing most of the shock, while non-OPEC production increases. The drop in world demand for oil is due to price-induced conservation efforts, a general worldwide recession, and surplus inventories. The lower prices that have followed are not likely to continue because the recession and high-inventory factors are ready to turn around. World demand will probably rise at a slow, but steady rate, with OPEC probably surviving as an effective price-setting cartel. Saudi Arabia will have to assist the weaker nations to keep them within OPEC price-and-quota regulations. (DCK)},
doi = {},
url = {https://www.osti.gov/biblio/5206586}, journal = {},
number = ,
volume = ,
place = {United States},
year = {Fri Jan 01 00:00:00 EST 1982},
month = {Fri Jan 01 00:00:00 EST 1982}
}

Book:
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