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Real Oil Prices from 1980 to 1982

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  • Hillard G. Huntington

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.

Suggested Citation

  • Hillard G. Huntington, 1984. "Real Oil Prices from 1980 to 1982," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 119-132.
    • Handle: RePEc:aen:journl:1984v05-03-a08
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    JEL classification:

    • F0 - International Economics - - General

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