Strong dollar, low inflation, and OPEC's terms of trade

Journal Article · · J. Energy Dev.; (United States)

OSTI ID:5533169

Shaaf, M

The relative strength and weakness of the dollar, inflation, oil price changes, and the terms of trade of OPEC have been measured for 1970 to 1983. Overall, during this period the terms of trade of OPEC improved most in 1974 and deteriorated most in 1978. A recent strong dollar has improved OPEC's position substantially. But high prices of imports in some years and the oil-price reduction of 1983 offset this impact. The future of the terms of trade for OPEC depends upon future oil price changes, the strength of the dollar, and future world inflation. As the major element of the terms of trade of OPEC is the price of oil, the changes in OPEC's terms of trade in the future depend on the future price of oil, which itself depends upon the unity of OPEC members as a viable cartel. 9 references, 4 tables.

• Research Organization: Central State Univ., Edmond, OK
• OSTI ID: 5533169
• Journal Information: J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 10:1; ISSN JENDD
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ENERGY SOURCES
FOREIGN EXCHANGE RATE
FOSSIL FUELS
FUELS
INFLATION
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
TRADE