VOL. XXXVI
NO. 32
10-MAY-1993
SUPPLY/DEMAND
US Oil Production Down 5.3% In 1Q93
According to statistics recently released by the American PetroleumInstitute, US domestic crude oil production averaged 6.941mn b/d during thefirst quarter of 1993, compared to 7.329mn b/d during the same period last year,or a decrease of 5.3%. The 388,000 b/d shortfall is the largest quarterlydecline registered in nearly three years, and is attributed by API to "thecontinued weakening in lower 48 output, which fell...
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