Oil
Production of oilCrude oil production data are presented in (Etemad et al., 1991) and Mitchell (1992, 1993, 1995). Data for 1990 for the America regions were derived from IEA (1998). For the period 1890 - 1980 the production was given in thousand metric tons and converted into metric tons of oil equivalent done with the multiplier 0.7. Notice the dramatic increase in oil production in the Middle East, CIS and Africa after 1950, this in contrast with the steady growth in production in USA, which resulted to an oil crisis in the 70s. Another point of interest is the sudden decrease in production in several regions during the 80s, due to the global economic recession at that time.
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