The oil price crisis of 1998

Working paper

Oil prices have fallen since the end of November 1997 well below a level of $18 per barrel for dated Brent which petroleum-exporting countries and oil companies have been recently inclined to consider as a kind of acceptable norm. The fall in price has elicited rather speedily a producers’ response which involved both OPEC and non-OPEC countries.

Authors: Mabro, R

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies
• Series: OIES paper
• Publication date: 1998-01-01
• Edition: Publisher's version
• Paper number: SP10
• ISBN: 1901795071
• Language: English
• Keywords: oil-exporting countries; oil consumption; producing countries; Brent; OIES; backwardation; inventories; oil production; contango; oil diplomacy; stocks; exporters; oil prices