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International energy.

Crude Oil Production. World crude oil production during February 1998 was 68 million barrels per day, up 0.5 million barrels per day from the level in the previous month.

Organization of Petroleum Exporting Countries (OPEC) production during February 1998 averaged 29 million barrels per day, up 0.5 million barrels per day from the level during the previous month. During February 1998, production increased in Iraq by 442 thousand barrels per day, Nigeria by 45 thousand barrels per day, and Qatar by 20 thousand barrels per day. Production decreased in Venezuela by 30 thousand barrels per day and in both Saudi Arabia and Kuwait by 5 thousand barrels per day. Production remained unchanged in Iran, the United Arab Emirates, Libya, Indonesia, and Algeria.

Among the non-OPEC nations, production during February 1998 increased in the United States by 100 thousand barrels per day, Mexico by 55 thousand barrels per day, Canada by 32 thousand barrels per day, and Russia by 26 thousand barrels per day. Production decreased in China by 85 thousand barrels per day, Norway by 63 thousand barrels per day, and the United Kingdom by 14 thousand barrels per day. Production remained unchanged in Egypt.

Petroleum Consumption. In December 1997, consumption in all Organization for Economic Cooperation and Development (OECD) countries was 43.7 million barrels per day, 3 percent higher than the December 1996 rate. The consumption rate was higher than it was 1 year ago in Italy (+11 percent), Canada (+6 percent), the United States (+5 percent), and France (+4 percent). The consumption rate was lower in Japan (-3 percent) and in Germany and the United Kingdom (both -1 percent), compared with the rate 1 year earlier.

Petroleum Stocks. For all OECD countries, petroleum stocks at the end of December 1997 totaled 3.7 billion barrels, 3 percent higher than the ending stock level in December 1996. Stocks were higher in Canada (+10 percent)(1), Japan (+5 percent), France and the United States (both +4 percent). Stock levels were lower in the United Kingdom (-5 percent), Italy (-4 percent), and Germany (-1 percent), compared with levels 1 year earlier.

Nuclear Electricity Generation. Based on Nucleonics Week(2) information for February 1998, all reporting countries with nuclear capacity generated 194.6 gross terawatthours (one terawatthour equals 1 billion kilowatthours) of nuclear-generated electricity.

As of February 28, 1998, there were 433 operable nuclear generating units in the world.

[TABULAR DATA 10 NOT REPRODUCIBLE IN ASCII]

[Figure 10 ILLUSTRATION OMITTED]

(1) Percentage changes are based on unrounded data.

(2) A copyrighted publication of The McGraw-Hill Publishing Companies, Inc. Used with permission.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998 Gale, Cengage Learning. All rights reserved.

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Title Annotation:February 1998
Publication:Monthly Energy Review
Date:May 1, 1998
Words:432
Previous Article:Energy prices.
Next Article:Energy overview.
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