Soviet woes, Middle East crisis cut first half world crude oil production

Journal Article · Mon Sep 16 04:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:5793018

Beck, R J

This paper reports that the Persian Gulf crisis and the faltering Soviet oil industry spawned a 2.8% dive in world oil production during first half 1991 compared with the same period a year ago. Total world flow averaged 59.781 million b/d, down 1.728 million b/d from first half 1990. First half Soviet production fell 1.13 million b/d from a year ago to 10.6 million b/d. Production among members of the Organization of Petroleum Exporting Countries in the first half averaged 22.927 million b/d, down 1.099 million b/d. Non-OPEC production averaged 36.854 million b/d, down from the 1990 first half average of 37.483 million b/d. OPEC's share of total world production fell to 38.4% for first half 1991 from 39.1% for first half last year. In 1979 OPEC production was 49.1% of total world production. OPEC's share dropped to 29.9% of the world total in 1985 and had been moving back up since then. OPEC set new production quotas totaling 22.31 million b/d, reflecting the curtailment of production from Kuwait and Iraq. Production in the first half of 1991 was 2.8% above quota.

• OSTI ID: 5793018
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:37; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290201 -- Energy Planning & Policy-- Economics-- (1992-)
294002 -- Energy Planning & Policy-- Petroleum
ASIA
DEVELOPED COUNTRIES
ENERGY SOURCES
EUROPE
EXPORTS
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
INDUSTRY
INTERNATIONAL ORGANIZATIONS
MIDDLE EAST
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PETROLEUM INDUSTRY
PRICES
PRODUCTION
TRADE
USSR