Vol. XL

No. 1


Was 1996 A Pricing Anomaly?by Sarah Emerson

The following retrospective analysis of oil price developments in 1996 is by Sarah Emerson, Director of the Petroleum Practice at the Washington-headquartered energy consulting group ESAI. The article is based on a "management letter" sent by ESAI to its clients in mid-December.

As 1996 draws to a close, it seems appropriate to review how and why this year has stood out so prominently in terms of crude oil pricing. At the...