Report of the Supply and Demand Committee, Independent Petroleum Association of America

Conference · Thu May 06 00:00:00 EDT 1982

OSTI ID:5432552

The Committee reached the following conclusions concerning the domestic economic situation and the petroleum industry for 1982: economic activity will register a decline following a modest increase last year; energy consumption will fall for the third consecutive year, continuing the trend towards less energy requirement per unit of GNP; oil demand will decrease approximately 600 thousand barrels per day (bpd) to average about 15.4 million bpd (this follows the drop of over one million bpd in 1981); demand for all major products will decline, but at a more modest rate than experienced in 1981; oil imports will average 5.0 million bpd - down over 700 thousand bpd from 1981; refinery capacity utilization will remain low (crude runs are expected to average 12.0 million bpd, a decrease of over 400 thousand bpd from last year's level); and natural gas consumption will remain essentially flat (adequate supply will be available to meet demand).

• Research Organization: Independent Petroleum Association of America, Washington, DC
• OSTI ID: 5432552
• Report Number(s): CONF-820587-Summ.; ON: DE82904711
• Resource Relation: Conference: Independent Petroleum Association of America mid-year meeting, Reno, NV, USA, 5 May 1982
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
PETROLEUM
SUPPLY AND DEMAND
PETROLEUM INDUSTRY
FORECASTING
ENERGY CONSUMPTION
ENERGY DEMAND
ENERGY SUPPLIES
IMPORTS
MEETINGS
PETROLEUM REFINERIES
USA
DEMAND
ENERGY SOURCES
FOSSIL FUELS
FUELS
INDUSTRIAL PLANTS
INDUSTRY
NORTH AMERICA
020700* - Petroleum- Economics
Industrial
& Business Aspects