The price of oil in 2015

London – In late 1979, I began work on my PhD thesis, an empirical investigation of the OPEC surplus and its disposal. It was the end of a decade in which oil prices had undergone two dramatic increases, and most of the various geniuses of the day were confidently predicting that they would continue to soar, from under $40 per barrel – a historic high at that time – to above $100.
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Times Reporter