THE IMPACT OF LOW OIL PRICES ON DEMAND, SUPPLY AND THE PETROLEUM INDUSTRY 

by Robert Mabro

(The following paper by Mr. Robert Mabro, Director of the Oxford Institute for Energy Studies (OIES), is based on the proceedings of an OIES meeting of industrialists and experts held in Oxford on 4 February 1986. The meeting addressed the following question: What is the impact of recent changes in the world oil market on the structural features of the petroleum industry? However, this paper is...