Real Oil Prices from 1980 to 1982

Hillard Huntington

The Energy Journal, 1984, vol. Volume 5, issue Number 3, 119-132

Abstract: In the early 1980s, soft world oil markets were accompanied by two important and unforeseen world economic developments: stagnant economic growth and an appreciating dollar. The virtual standstill in economic growth from 1980 to 1982 was well off the 3 percent-plus growth path many analysts had anticipated. This experience, coupled with large shifts in oil inventory holdings by consumers (and perhaps increased consumer responses to oil prices), has led to a steady accumulation of unused productive capacity in the world oil market.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 1984
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