PRODUCTION CONTEST LIKELY AS CAPACITY SURPLUS GROWS

The world seems headed for an oil production contest in 1993 after 2 years of tenuous balance in the petroleum market. This year, worldwide average production of 60 million b/d remained only slightly below most estimates of accessible production capacity. Oil & Gas Journal's annual estimate of worldwide production shows losses in the U.S. and former Soviet Union offset by gains by members of the Organization of Petroleum Exporting Countries and others.

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