Supply instability and oil market behavior
Author(s)
Jacoby, Henry D.; Paddock, James Lester![Thumbnail](/bitstream/handle/1721.1/35228/MIT-EL-79-033WP-06526477.pdf.jpg?sequence=7&isAllowed=y)
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Show full item recordAbstract
This paper analyzes the disruption in world oil markets which was
triggered by the 1978-79 Iranian revolution. The resultant price rises
are explored in the context of the behavior of the spot market and key
OPEC countries. In particular, the economic and political roles of excess
oil supply in the Persian Gulf nations are discussed. Conclusions for the
likely future are presented, along with the implications for United States
policy.
Date issued
1979-11Publisher
MIT Energy Laboratory
Other identifiers
06526477
Series/Report no.
MIT-EL79-033WP
Keywords
Petroleum industry and trade., Petroleum products |x Prices.
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