Griffin, James M.; Jones, Clifton T. - In: The Energy Journal Volume 7 (1986) Number 4, pp. 37-50
The recent precipitous decline in world oil prices from $28 per barrel in November 1985 to $12 per barrel in March 1986 has perplexed most industry analysts and OPEC watchers. As oil prices continue to deteriorate, the central question now seems to be: "Is there a price floor below which oil...