Soviet crude oil production dropped 4% last month.
The decline from a year earlier continues the downward slide in oil production that has been noticeable over the last 18 months. Figures published by the government’s Economic Gazette also showed that the Soviet Union’s crude oil output for the first seven months of 1985 lagged 3.6% behind last year. Declining production and increased domestic demand are believed to be pressuring the Soviet economy, which derives 60% of its hard currency from crude oil sales.
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