WORLDWIDE PRODUCTION FALLS AS MARKET PLAYS ITS WILD CARDS

Worldwide production of crude oil and condensate fell slightly this year as the oil market began playing its wild cards. Stagnant economies in Europe and Japan kept demand from rising despite a slow but steady recovery in the U.S. and solid growth elsewhere in the Asia-Pacific region. Average oil production for the year slipped by 0.6% from 1992's average to 59.6 million b/d. Crude oil reserves increased. fractionally to 999.1 billion bbl, natural gas reserves by 2.7% to 5 quadrillion cu

Dec 27th, 1993

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