VOL. XXXIV

NO. 18

4-FEBRUARY-1991

Supply/Demand

Soviet Oil Production Declines by 740,000 b/d in 1990

Soviet oil production in 1990 averaged 570mn tons (11.4mn b/d) compared to607mn tons (12.14mn b/d) in 1989, a decline of 37mn tons (740,000 b/d) or 6.1%,according to the annual report released last week by the State StatisticsCommittee (Goskomstat). The report charged that the decline in oil production isdue to "the falling behind in the quality of field development, anabnormally high number of...