Short-Term Energy Outlook. Quarterly projections, July 1986
Technical Report
·
OSTI ID:5476818
Declining oil prices have not resulted in large increases in demand or sharp decreases in supply. The world oil price fell from a first-quarter 1986 average of $20 per barrel to an estimated $13 per barrel in the second quarter, reflecting the continued overproduction of oil worldwide and the failure of the Organization of Petroleum Exporting Countries (OPEC) to agree on production levels necessary to bolster prices. In the forecast period, oil prices are assumed to begin increasing in the fourth quarter of 1986 and reach about $18 per barrel by the end of 1987. The drop in oil prices is a major factor in the very low aggregate inflation levels experienced so far this year. Lower oil prices also have led to decreases in natural gas prices, particularly at electric utilities.
- Research Organization:
- USDOE Energy Information Administration, Washington, DC. Office of Energy Markets and End Use
- OSTI ID:
- 5476818
- Report Number(s):
- DOE/EIA-0202(86/3Q); ON: DE86014032
- Country of Publication:
- United States
- Language:
- English
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