INDUSTRY BRIEFS

AMERICAN PETROLEUM INSTITUTE reported U.S. oil imports rose sharply in February while U.S. crude production continued its sharp decline. Total petroleum imports averaged 8.147 million b/d, up 20% from 6.754 million b/d a year ago. U.S. crude oil production recorded its largest year-to-year decline in 2 1/2 years, dropping nearly 6% to 6.925 million b/d from 7.361 million b/d in February 1992. ENERGY INFORMATION ADMINISTRATION predicts net U.S. petroleum imports will reach 7.9 million b/d in

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