000			01638nam a2200193Ia 4500
999			_c37533 _d37533
005			20220522161627.0
008			200202s9999 xx 000 0 und d
020			_a916468666
082			_a333.8232 FLA
100			_aFlavin, Christopher
245		0	_aWorld oil
260			_aWashington
260			_bWorldwatch Institute
260			_c1985
300			_a66 p.
520			_aThe world oil situation has changed dramatically in the five years. The average price of oil has declined from its of over $35 per barrel in early 1981 to just $27 in 1985, hem to dampen inflation and boost economic recovery in countries. The Middle East's share of world oil trade fell fro percent in 1979 to 40 percent in 1984. The Organization of Petro Exporting Countries (OPEC) is in disarray. Its official prices production quotas are regularly violated by most member coun About half of the oil traded internationally is sold on a compe international spot market." The shift in the energy debate was sudden and largely unforese energy planners. In the late seventies, opinion was virtually mous that further oil price increases and continuing heavy pendence were inevitable. The Worldwatch Institute is dozens of research groups, private companies, and governmen expected oil prices to surpass $50 per barrel during the eig Petroleum industry studies predicted that world oil prod would reach at least 90 million barrels per day before peaki tween 1985 and 1995. Actual oil production in 1985 will averag 58 million barrels per day, down sharply from its historical E almost 66 million barrels in 1979
650			_aPetroleum
942			_cB _2ddc