The Oil Price Crisis of 1998

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.

By: Robert Mabro

Latest Tweets from @OxfordEnergy

  • Jonathan Stern quoted on the future of gas: On CO2 grounds and also methane leakage it will not be possible to repr… https://t.co/wtJ0a7QtK3

    May 18th

  • Jonathan Stern on EU gas market liberalisation: Huge amount achieved in NWE and to lesser extent in Central Europe;… https://t.co/UmieaGKDcA

    May 17th

  • Kallanish Energy reviews an OIES comment on Iran sanctions, Venezuela, the OPEC+ deal, spare capacity, Saudi Arabia… https://t.co/zM6YbcktCw

    May 17th

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.