VOL. XXXIV

NO. 31

6-MAY-1991

Supply/Demand

1991 Drop in Soviet Oil Production Could Reach 1mn b/d

Recent reports from Moscow indicate that Soviet oil production continues todecline in 1991, with first quarter results showing a 9% drop in output comparedto the same period last year. Exports of crude oil and petroleum products forthe first quarter are estimated to be around 14.5mn tons, a decline ofapproximately 15% from the same period last year.

Official statistics recently released by the Ministry...