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.
The 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...
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