OPEC reorganization could spell relief
Last year proved to be one of carnage in the oil industry, with only the large, vertically integrated, international oil companies showing strength during the oil price collapse. Independent producers and the manufacturing/service sector watched 50% or greater reductions in income. And this year holds little prospect for significant relief during its first half, although the last half could be better if and when Opec decides to once again test its strength. An Iranian victory in the Iran/Iraq war could also cause an upward movement in price. However, price instability should be less than in 1986, as the business heads toward a consensus price via political factors. The U.S. economy again showed improvement through 1986, with moderate growth of 2.6% in Gross National Product (GNP). The ongoing expansion has lasted four years and is already 17 months longer than the average peacetime expansion. However, important energy components did not show strength, and industrial production continued at level rates for the past two years.
- Research Organization:
- Philip C. Crouse and Associates, Dallas, TX
- OSTI ID:
- 6518335
- Journal Information:
- World Oil; (United States), Vol. 204:2
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
02 PETROLEUM
OPEC
ENERGY POLICY
PETROLEUM
PRICES
ECONOMY
FORECASTING
GROSS NATIONAL PRODUCT
INTEREST RATE
IRAN
IRAQ
PETROLEUM INDUSTRY
POLITICAL ASPECTS
PROFITS
USA
ASIA
DEVELOPING COUNTRIES
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INDUSTRY
INSTITUTIONAL FACTORS
INTERNATIONAL ORGANIZATIONS
MIDDLE EAST
NORTH AMERICA
OIL-EXPORTING COUNTRIES
294002* - Energy Planning & Policy- Petroleum
290200 - Energy Planning & Policy- Economics & Sociology
020700 - Petroleum- Economics
Industrial
& Business Aspects