Word: bbl
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Dates: during 1980-1989
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...have any plans to cut production back to the 8.5 million bbl. per day level that existed prior to the Iranian revolution...
...your oil companies act responsibly and start drawing down these stocks to head off unnecessary panic, I think you'll get through this winter without price increases like those in 1979. If you keep stocks at present levels, the price will go up to at least $60 per bbl...
...understand that the damage to the Iraqi installations is not that bad. It appears that Iraq could pump at least 1.6 million bbl. per day early next year. The Iranians probably much less...
...returned to a ceiling of 8.5 million bbl. per day, that would immediately affect you. It would remove 2.5 million bbl. per day from the market, and the price of oil would be $60 at least. But why should we keep our production at abnormally high levels without a quid...
Ronald Reagan has some good energy news to greet him next month when he takes office. Americans are now using less fuel. Each American this year will use up an estimated 350 million B.T.U.s of energy (the equivalent of 60.3 bbl. of oil), as compared with 358 million in 1979. In addition, the U.S. so far this year has been importing 19.4% less foreign oil than in 1979. Domestic drilling activity is also at an alltime high, as wildcatters dig wells in the prairies of Wyoming and off the coast of Alaska...