Word: crudely
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Dates: during 1920-1929
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...industries are as unstable as that which is concerned with the production, refining and distribution of petroleum. It is always either a feast or famine. Until only a few weeks ago, the famine element seemed uppermost; overproduction had created a great surplus of crude oil for the oil companies to carry, prices were declining precipitously, and disaster was frankly anticipated by the trade. But meanwhile the consumption of crude oil and its byproducts, continued to increase. The huge production of automobiles demanded greater amounts of gasoline than ever. Large office buildings and hotels have adopted oil heating systems. Some railroads...
Statistics for petroleum production in 1923, now completed, show that last year broke all records with an output of 745 million barrels of crude oil, which was 187 million barrels, or a 33% increase over production in 1922. Consumption also broke all records with the figure of 730 million barrels, an increase of 154 million barrels, or 26% over the year preceding...
...production of gasoline last year was estimated at 179 million barrels, or 31 millions over 1922. Surplus stocks of crude and refined petroleum on Jan. 1, 1924, aggregated 465 million barrels-an increase of 93 million barrels over the stocks a year...
...more cheerful tone has pervaded the industry ever since it was learned that the current production of crude oil was on the decrease. For the week ending Jan. 5 the output was 1,884,050 barrels daily, which compares with 1,927,750 barrels for the week ending Dec. 29, 1923. Peak production was reached the week ending Sept. 8, 1923, when the daily average production was 2,280,700 barrels...
This recent decline in production of 43,700 barrels daily represents a slackening in the output of the California, Wyoming and Montana fields. Even the recently discovered Powell field is now showing declining output. Meanwhile, prices for crude oil are edging up 25? at a time especially in the Pennsylvania, Middle West and Wyoming territories...