Word: output
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...already glutted market begins." A price war would be a risky, last-ditch change in strategy for OPEC, which has been floundering in an ocean of crude. For the past four years OPEC has tried to shore up prices by limiting the worldwide oversupply. The cartel squeezed its output from a peak of nearly 32 million bbls. per day in 1979 to just 18 million now. But such competitors as Britain and Mexico defeated that strategy by selling more oil. Like a lonely gas- station owner watching all the cars whiz by, OPEC cannot figure out how to stop...
Even before the formal proceedings began, Saudi Arabia's Yamani and a few other delegates issued informal price-war ultimatums. Declaring that all the world's oil producers should share in the burden of the oversupply, the ministers called on non-OPEC countries to cut back their output, or else. They apparently hoped their threat alone would make competitors fearful of a superglut and persuade them to slash production. But the message backfired. While it succeeded in panicking oil traders, the tough talk failed to frighten Britain or Norway enough to make them tighten their spigots. British officials said that...
Barakett, who is one point away from equalling his 1984-'85 output with 17 points, is third in both the Ivy League (11) and the ECAC (15) behind the Crimson's top two centers...
...sophomore skating sensation equaled the output of the Ancient Eight Pandas--who tripped Harvard, 3-2, earlier in the season--in the first 11 minutes of last night's contest...
...lack of offensive output only magnified the Crimson's defensive effort...