OPEC AND OIL PRICES
API Report Says US Oil Imports Could Double by 1991
With US crude oil imports in June up 48.6t from June 1985 at 4.5mn b/d, a new study by the American Petroleum Institute (API) has warned that as a result of the price collapse US oil imports could double by 1991, when they would account for well over 50% of US consumption.
The study, entitled "Two Energy Futures: National Choices Today for the 1990s", concludes that if prices were to stabilize at $15/B...
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