World oil flow steady in 1992; stable market ahead for 1993

Journal Article · Mon Mar 08 04:00:00 EST 1993 · Oil and Gas Journal; (United States)

OSTI ID:6490239

Beck, R J

World crude oil production in 1992 was virtually unchanged from 1991. Production last year averaged 59.96 million b/d, up only 17,000 b/d from 1991. Substantial production declines in the C.I.S. and U.S. were offset by increases among members of the Organization of Petroleum Exporting Countries and a number of other countries outside the OPEC sphere. Figures from the International Energy Agency (IEA) show world demand for petroleum products moved up 300,000 b/d to 66.9 million b/d. This included an addition to stocks of an estimated 1000,000 b/d. IEA predicts world demand will continue to rise in 1993 and OPEC output will advance to meet this higher level. Even though OPEC production is expected to be up for the year, seasonal swings in demand can cause price fluctuations. The paper describes OPEC production, non-OPEC production, oil prices, the world oil supply, Russian's decline, world demand, and the outlook for 1993.

• OSTI ID: 6490239
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 91:10; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
ASIA
DEVELOPED COUNTRIES
ENERGY SOURCES
EUROPE
FORECASTING
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
INTERNATIONAL ORGANIZATIONS
MARKET
NORTH AMERICA
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
PRODUCTION
SUPPLY AND DEMAND
USA
USSR