VOL. XXXV

NO. 43

27-JULY-1992

Supply/Demand

US Crude Oil Production Lowest in 30 Years, Says API

US crude oil production during the first half of 1992 was 7.23mn b/d,compared to 7.48mn b/d during the same period last year, or a decline of 3.3%,according to figures released on 16 July in the American Petroleum Institute(API) in its mid-year report. This is the lowest level of domestic oilproduction in any corresponding period since 1961. "Unfortunately, there isno evidence from other indicators of...