Increasing demands strain Russian exports

Journal Article · Mon Sep 01 04:00:00 EDT 1969 · World Oil; (United States)

OSTI ID:5373693

The U.S.S.R.'s consumption of petroleum products and expanding demands of satellite countries are beginning to catch up with Soviet production--resulting in a leveling off of exports to the Free World. This trend is not expected to change. U.S.S.R. crude oil production-- up 7% in 1968--is not expanding fast enough to match the Soviet Union's own increasing oil needs, those of satellite countries or to provide a surplus for sale to the Free World. Crude production in 1968 averaged 6.15 million bpd, while domestic demand and exports combined averaged 6.1 million bpd. Little remained for future expansion. If crude production continues to show an annual increase of from 7 to 10%, U.S.S.R. still will have trouble meeting its obligations, because domestic demand is expected to reach 4.7 million bpd by 1970 and export requirements will continue to rise. During the past 5 yr, the narrowing gap between production and commitments has forced Russia to relax its attitude toward communist countries making deals--mostly barter-- with the Free World. Bulgaria, Czechoslovakia, E. Germany, Hungary, and Romania have signed an import agreement with Iran and Egypt. The entire exportable surplus of the Soviet Union in 1970 is estimated to be 1.2 million bpd.

• OSTI ID: 5373693
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 169:4; ISSN WOOIA
• Country of Publication: United States
• Language: English

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