Word: bbl
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Dates: during 1980-1989
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...minded consumers have succeeded. One notable flop has been low-alcohol beer, or LA, which contains about half the alcohol of regular brews. Introduced in 1983 by a small Cincinnati brewery, Hudepohl, and later rolled out by the major brands, LA sales slumped 7% last year to 500,000 bbl., or only .1% of the total beer market. One possible reason is that drinkers who are worried about their weight already have low-calorie choices like Miller Lite, while consumers who want kickless beer can turn to nonalcoholic ones, including Moussy and Kingsbury...
...market reacted immediately and forcefully to the new plan, which calls for OPEC to reduce its production by roughly 3.5 million bbl. a day, down to a daily total of about 16.7 million bbl. The price for next month's delivery of the benchmark West Texas Intermediate crude jumped 30% in two days, to $15.08 per bbl. and closed the week at $14.82. Boasted one OPEC official: "We have weathered the storm. Talk about OPEC on its knees? We are standing tall again, and we are here to stay...
...agreement and prices keep rising, heavily indebted petroleum-producing nations like Mexico and Venezuela would clearly enjoy a boon. The production cut would also help the oil-patch states in the U.S., which felt the pinch as the price of Texas-grade oil fell from about $27 per bbl. in January to a low of $9.75 in April. Consumers, though, would face more expensive heating oil and gasoline, and if prices continue to climb, the increase could rekindle inflation and eventually weaken the world economy...
...Yamani's suite, which had a sweeping view of Lake Geneva. Since OPEC members were unwilling to make long-term promises to limit their oil production, Aqazadeh reasoned, Why not try an interim measure? He suggested a temporary return to the group's 1984 quota of some 16 million bbl...
...production quota be twice as large as that of Iraq, with whom it has been at war for the past six years. But this time Iran dropped its usual demand. Iraq would be exempt from the agreement and could continue to produce at full capacity, about 1.8 million bbl. of oil a day. Iran would not really suffer either. It would keep pumping at present levels, lifting some 2.3 million bbl...