Oil Imports at Highest Level Since 1980 Rate : Analysts Fear OPEC May Regain Power Over U.S.

Oil imports last month surged to the highest rate since 1980 as domestic production fell and consumption rose, reviving fears that foreign producers may soon control more than half of U.S. oil supplies, energy analysts said Wednesday.

The American Petroleum Institute, which represents major oil producers and refiners, said U.S. crude oil production fell to 7.9 million barrels a day, a 3.4% drop from January, 1988.

Alaskan production, which in recent years offset declines in other parts of the United States, slipped for the second straight month with no major new oil fields tapped, the Washington-based group said in its monthly report. About a quarter of U.S. oil comes from Alaska.

Imports of oil and oil products surged to a rate of 8.2 million barrels a day, an increase of 20.6% over the January, 1988, level of 6.8 million barrels. It was the first month that imports averaged more than 8 million barrels since 1980, the API said.

Despite the increase in imports, inventories fell 13 million barrels, or 2.3%, with part of the decline the result of higher refinery activity. Refinery utilization rose from a rate of 82.8% to 85.4%, the highest monthly level since 1979.