VOL. XXXIII

NO. 16

22-JANUARY-1990

Supply/Demand

US Oil Production Declines 553,000 B/D in 1989, Says API

The American Petroleum Institute (API) announced on 17 January that UScrude oil production in 1989 witnessed the biggest decline ever, while oilimports reached a 10-year high. In announcing the data, Mr. Edward H. Murphy,API's Director of Finance, said that production and import trends were"very disturbing and should be a focus of national concern."

In its end-year report, the API said US crude...