VOL. XLII
No. 32
9-August-1999
GENERAL
Market Factors Not Price "Dumping" An AnalysisOf The 1998 Oil Price Collapse
The following is the text of a report on the 1998 oil pricecollapse (dated August 1999) prepared by the New York-based Petroleum IndustryResearch Foundation Inc. (PIRINC).
Introduction
1998 witnessed an unprecedented collapse in internationaloil prices. Since the factors that led to the decline were largelyunanticipated, no producer or service company was able to escape the pain....
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