World crude output overcomes Persian Gulf disruption

Journal Article · Sat Feb 01 04:00:00 EST 1992 · World Oil; (United States)

OSTI ID:5678037

Several OPEC producers made good on their promises to replace 2.7 MMbpd of oil exports that vanished from the world market after Iraq took over Kuwait. Even more incredibly, they accomplished this while a breathtaking 1.2- MMbopd reduction in Soviet output took place during the course of 1991. After Abu Dhabi, Indonesia, Iran, Libya, Nigeria, Saudi Arabia and Venezuela turned the taps wide open, their combined output rose 2.95 MMbopd. Put together with a 282,000-bopd increase by Norway and contributions from smaller producers, this enabled world oil production to remain within 400,000 bopd of its 1990 level. The 60.5-MMbopd average was off by just 0.7%. This paper reports that improvement took place in five of eight regions. Largest increases were in Western Europe and Africa. Greatest reductions occurred in Eastern Europe and the Middle East. Fifteen nations produced 1 MMbopd or more last year, compared with 17 during 1990.

• OSTI ID: 5678037
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 213:2; ISSN 0043-8790; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
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& Business Aspects
ENERGY SOURCES
EVALUATION
EXPORTS
FOSSIL FUELS
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INTERNATIONAL ORGANIZATIONS
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRODUCTION
TRADE