Word: benchmarking
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...cheating, but considerably less than most experts had expected. Oil-industry analysts estimate that OPEC is producing just 1 million bbl. per day more than the quota. As a result, OPEC's relative restraint is sparking a rally in the oil markets. The price of West Texas intermediate, a benchmark crude, reached $19.26 per bbl. last week, vs. less than $13 last October. Not since November 1987 has petroleum been so expensive...
...Kuwait and the United Arab Emirates -- have opened their spigots, increasing OPEC's total output nearly 10%, to 21 million bbl. a day. Because worldwide demand for OPEC's crude amounts to only about 19 million bbl., the overflow has created a price-dampening glut. West Texas Intermediate, the benchmark U.S. crude, fell earlier this month to $12.60 per bbl., a drop of nearly $3 from its level in August and more than $7 from a year ago. The price edged upward last week, closing at $14.92 per bbl., reflecting expectations among oil traders that the glut may soon inspire...
...this has helped depress the numbers that networks live by. A decade ago, the benchmark of prime-time success was a Nielsen rating of 20. (The rating refers to the percentage of total TV homes that are tuned in to a particular show. The "share" refers to the percentage of homes watching TV that are tuned to that show.) In the 1980-81 season, 28 network series achieved a 20 rating or better; last season only nine did. For many weeks last summer, not a single network show cracked the 20-rating level...
...their eight-year war, oil producers hoped that a new spirit of unity in OPEC would lead to a boost in crude prices. But the cartel is still fueled more by friction than by fellowship, and oil prices are plunging. Last week the cost of West Texas Intermediate, the benchmark grade of U.S. crude, dropped 4%, to $14.18 per bbl. -- its lowest level in nearly two years. Reason: although OPEC agreed last month to hold daily output to 15 million bbl., some 20 million bbl. are flooding the market each day. Among those exceeding their quotas are Iraq, Kuwait, Saudi...
...modern man and futuristic equipment approach the once unthinkable 20-ft. pole vault, the 30-ft. long jump, the 60-ft. triple jump and the 2-hr. marathon, the benchmark most likely to fall in Seoul is the 8-ft. high jump. Sweden's Patrik Sjoberg and West Germany's Carlo Thranhardt shared a world record of 7 ft. 11 1/4 in. until last week, when Cuba's Javier Sotomayor soared 7 ft. 11 1/2 in. in Spain. At least three other jumpers, West German Dietmar Mogenburg and Soviets Igor Paklin and Gennadi Avdeyenko, are potential Olympic eight-footers. Sotomayor...