Weak prices aid 1988 demand; Delay expected in upstream recovery

Journal Article · Mon Jul 25 04:00:00 EDT 1988 · Oil Gas J.; (United States)

OSTI ID:7133794

Beck, R J

With 6 months of hindsight, here are highlights of Oil and Gas Journal's midyear assessment of 1988: Demand for petroleum products in the U.S. will be up more than anticipated, increasing 2%. U.S. crude and condensate production will average 1.7% below a year ago. Increased Alaskan production will help offset the decline elsewhere. Total imports will jump 8%, increasing U.S. dependence on imported crude and products. Refinery runs will grow with demand, increasing 2.1%; utilization rate will remain at 83%. Well completions in the U.S. will exceed last year by 9%, but won't reach the level expected as the year began; rotary rig activity outside the U.S. and Canada should meet the 7% growth expected earlier. The increase in oil output by both OPEC and non-OPEC producers is expected to be greater than demand growth for the year.

• OSTI ID: 7133794
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 86:30; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020500 -- Petroleum-- Products & By-Products
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
ALASKA
CANADA
CONDENSATES
ENERGY SOURCES
FEDERAL REGION X
FOSSIL FUELS
FUELS
IMPORTS
INDUSTRIAL PLANTS
INTERNATIONAL ORGANIZATIONS
NORTH AMERICA
OIL-EXPORTING COUNTRIES
OPEC
PETROCHEMICALS
PETROLEUM
PETROLEUM PRODUCTS
PETROLEUM REFINERIES
PRICES
SUPPLY AND DEMAND
USA