1945

Recent developments in the oil market

Oil prices plummeted from an average of around $28 per barrel at the end of 1985 to less than $10 per barrel in mid-1986. At the end of the summer they began to firm up, reaching on average $12-15 at the end of the year and $18 in the early part of 1987, and now stand at $18-19; in terms of the yen and the deutsche mark the current price is 60 per cent above the mid-1986 level.

Related Subject(s): International Trade and Finance
/content/books/9789210602907s006-c003
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