VOL. XXXIV
NO. 25
25-MARCH-1991
Supply/Demand
Soviet Oil Exports Cut by Half, Says Gorbachev
Soviet President Mikhail Gorbachev said last week that his country is cuttingoil exports by half, resulting in a severe shortage in foreign currency earningsand imports, according to the Soviet news agency TASS on 18 March. Mr. Gorbachevtold a group of economists that "instead of 125mn tons of oil (2.5mn b/d),we managed to set aside for sale only 60mn tons of oil (1.2mn b/d). This means aloss of hard...
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