Soviet Union oil sector outlook grows bleaker still

Journal Article · Mon Aug 12 00:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:5571076

This paper reports on the outlook for the U.S.S.R's oil sector which grows increasingly bleak and with it prospects for the Soviet economy. Plunging Soviet oil production and exports have analysts revising near term oil price outlooks, referring to the Soviet oil sector's self-destructing and Soviet oil production in a freefall. County NatWest, Washington, citing likely drops in Soviet oil production and exports (OGJ, Aug. 5, p. 16), has jumped its projected second half spot price for West Texas intermediate crude by about $2 to $22-23/bbl. Smith Barney, New York, forecasts WTI postings at $24-25/bbl this winter, largely because of seasonally strong world oil demand and the continued collapse in Soviet oil production. It estimates the call on oil from the Organization of Petroleum Exporting Countries at more than 25 million b/d in first quarter 1992. That would be the highest level of demand for OPEC oil since 1980, Smith Barney noted.

• OSTI ID: 5571076
• Journal Information: Oil and Gas Journal; (United States), Vol. 89:32; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
PETROLEUM
PRICES
PRODUCTION
SUPPLY AND DEMAND
USSR
PETROLEUM INDUSTRY
ECONOMIC ANALYSIS
GLOBAL ASPECTS
OPEC
ASIA
DEVELOPED COUNTRIES
ECONOMICS
ENERGY SOURCES
EUROPE
FOSSIL FUELS
FUELS
INDUSTRY
INTERNATIONAL ORGANIZATIONS
OIL-EXPORTING COUNTRIES
020700* - Petroleum- Economics
Industrial
& Business Aspects