Word: bbl
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Dates: during 1990-1990
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...going to take some real stability in the price. If the price steadies out at $25 to $28 per bbl. and stays there six months, then at least wildcatters and investors won't be scared...
...operators of thousands of small marginal "stripper" wells. Collectively they produce about 1.2 million bbl. per day. Many of these old wells have been shut down or need to be reworked...
...current gyrating cost of crude is the single most volatile factor in the world economy's fate. Since the Iraqi invasion, the price of oil has nearly doubled, to a spot rate of $37 per bbl. at the end of last week. America's monthly bill for imported oil has risen in proportion, to an estimated $7 billion, with the increase acting as a depressant on the economy. The price of regular unleaded gasoline has climbed 27 cents a gal., to $1.35, since early August. At these price levels, the heating-oil bill for the average Northeast homeowner could rise...
Iraqi missiles would not have to blow up many of the oil facilities; scattering enough poison gas and anthrax or botulism powder to make it impossible for workers to labor there would also disrupt production. Says a U.S. analyst: "With a shortfall of only 1 million bbl. of oil a day, now the price has gone to $35 ((from $18 before the invasion of Kuwait)). Imagine the impact of the loss of a big portion of Saudi Arabia's 7 million bbl. a day." Conceivably, the price could reach as high as $100, far more than enough to cause both...
...Tariq Aziz led a delegation to Tehran and negotiated the reopening of full diplomatic relations after a break of 10 years. A day later, the Tehran Times reported that Iran might begin delivering food and medicine to Baghdad. Reports soon leaked that Iraq had arranged to ship 200,000 bbl. of oil a day to Iran, freeing Iranian oil for sale on the high-price spot market...