World's 1993 oil flow slips; demand to move up in 1994

Journal Article · Mon Mar 14 04:00:00 EST 1994 · Oil and Gas Journal; (United States)

OSTI ID:7074594

Beck, R J

World crude oil production in 1993 was down slightly from the year before. Production averaged 59.752 million b/d, off 287,000 b/d from 1992, largely because of production declines in the Commonwealth of Independent States (C.I.S.) and US. Those declines were offset in part by increases among members of the Organization of Petroleum Exporting Countries as well as in regions such as the North Sea and other non-OPEC areas. International Energy Agency (IEA) figures show world demand for petroleum products fell 100,000 b/d in 1993 to average 67 million b/d for the year. This included a stock build estimated at 400,000 b/d. IEA expects world demand to move up this year. However, it is still doubtful whether OPEC production will have to expand to meet the higher level of consumption. That will depend on decisions about additions to stocks. The paper discusses OPEC production, OPEC quota, world liquids supply, world demand, and outlook for 1994.

• OSTI ID: 7074594
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:11; ISSN 0030-1388; ISSN OIGJAV
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
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29 ENERGY PLANNING, POLICY, AND ECONOMY
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294002 -- Energy Planning & Policy-- Petroleum
DEMAND
ENERGY DEMAND
ENERGY SOURCES
ENERGY SUPPLIES
FORECASTING
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
INVENTORIES
PETROLEUM
PETROLEUM PRODUCTS
PRICES
PRODUCTION