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Issue Report

Collection of full-length papers and in-depth analysis of economic and management issues.

Effect of a Sudden Rise in Oil Price and Suggested Countermeasures

Effect of a Sudden Rise in Oil Price and Suggested Countermeasures

OH Seung-Koo

Sept. 1, 1999

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Abstract

I. Background for the recent rise in the price of oil

International oil price approaching USD 25 per barrel

The international price of oil is showing a sudden rise, approaching USD 25 per barrel (in terms of the WTI). The price of oil rose by more than twofold from the price of USD 10 per barrel in early 1999. As of September 20, the WTI remains at USD 24.8 per barrel, Brent oil, USD 23.3 and Dubai oil, USD 22.1.

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