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...