Australian oil production slumps to 40-year low of 197,000 b/d: EnergyQuest

Australia has slumped to its lowest annual crude oil production in more than four decades at 71.9 million barrels or 197,000 b/d in 2013, local consultancy EnergyQuest said Thursday. Output for 2013 was down 18.6% from the level seen in 2012 and the lowest …