Word: bbl
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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...
...were in the Persian Gulf. Seemingly out of nowhere, an AIM-9 Sidewinder air-to-air missile blew a 2 1/2- ft. hole in the ship's superstructure. Fortunately, the errant missile was not armed with its customary exploding warhead and missed the ship's cargo of 26,000 bbl. of oil. The 9-ft. projectile was apparently launched during training maneuvers by an F-14 fighter from the Naval Air Station at Oceana, Va. While the Navy insists it had announced over marine radio that it would be conducting exercises in the area, a spokesman for Sun, the ship...
...Mexico to trim its deficit to 5% of GDP. The new loans are intended to help Mexico boost its growth rate from an estimated -4% this year to 3.5% in 1987. If the economy falls short of this goal, or if the price of oil drops below $9 per bbl., the agreement calls for additional loans. In return, Mexico pledged to continue a program of economic reforms, including denationalization of industries and liberalization of trade restrictions...