Price Elasticity of Demand for Oil and the Terms of Trade of the OPEC Countries

M. M. Metwally and A. T. Arab

The Energy Journal, 1987, vol. 8, issue 1, 53-68

Abstract: The price elasticity of demand for oil has changed significantly since the sharp rise in oil prices in late 1973. Although oil is still a necessary commodity with a price elasticity of less than one, the policies recently introduced by many importing countries to store oil and reduce its consumption, the continuous development of energy alternatives, and the increase in oil suppliers have contributed significantly to the rise in the price elasticity of demand for this vital commodity.

Keywords: Price elasticity of oil demand; OPEC countries; Mathematical model (search for similar items in EconPapers)
Date: 1987
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.5547/ISSN0195-6574-EJ-Vol8-No1-4 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:8:y:1987:i:1:p:53-68

DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No1-4

Access Statistics for this article

More articles in The Energy Journal
Bibliographic data for series maintained by SAGE Publications ().