Word: bbl
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Dates: during 1980-1989
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...Iraq and the other members of the Organization of Petroleum Exporting Countries. Such thinking caused the price of oil futures to seesaw violently last week. The price of a barrel of West Texas crude jumped 84 cents, to $15.70, when Iran first proposed peace, then plunged 47 cents per bbl. the next day, after Iraqi fighters bombed Iranian targets...
...which produced 140,000 bbl. of crude a day, along with natural gas, had been in operation since 1976 and was one of the oldest of the 123 fixed platforms in the British exploration area of the North Sea. Some experts cited equipment failure or metal fatigue as possible causes of the disaster. One widely held view was that there had been a leak in the natural-gas compression apparatus and that ignition had occurred through some kind of mechanical failure...
...Tower, although only 262 ft. of the rig will poke above the waves. Seven tugboats spent three days towing Bullwinkle to its home, 150 miles southwest of New Orleans in the Gulf of Mexico. When Bullwinkle reaches full production in 1991, its 50 wells will turn out 50,000 bbl. of oil a day, enough to make 2.1 million gal. of gasoline...
DESCRIPTION: Crude oil production in millions of bbl. a day by OPEC and non- OPEC countries, 1973-1987; Color illustration of can dripping oil onto head of Arab...
...likely to increase somewhat over the next few months. Whatever OPEC resolves to do, the main impetus for rising prices is likely to be heightened demand from a growing world economy and oil-guzzling consumers. Gasoline demand in the U.S. has returned to preconservation levels, topping 7 million bbl. a day during the first quarter of this year, the highest rate since...