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November 1990, No. 39

Turmoil in the Middle East once again confronts the economies of the U. S. and other oil importing countries with concerns about disruption in oil markets.

Last Updated: 11/27/1990

Oil and Competition in World Markets

George G. Kaufman

Although supplies are not drastically lower, oil prices have jumped from $20 per barrel at the end of July to around $40. The price hikes reflect not only current tightness in supplies but also uncertainty about the prospects for war, which would seriously disrupt oil supplies.