IPAA: U.S. OIL PRODUCTION TO RESUME LONG SLIDE

Although production rose slightly in 1991 in response to the Persian Gulf War, U.S. oil flow will resume its decline this year in downward trend that will persist at least until 2000. The Independent Petroleum Association of America's supply/demand committee pegs crude oil production at less than 7.2 million b/d, down 2.9% from 1991 and the lowest level in 30 years. Crude oil production will continue sliding to 5.8 million b/d by 2000, the smallest volume since 1950 (OGJ, Mar. 30,

Apr 6th, 1992
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