Unprecedented oil price stability – but markets still liable to sudden change

Oil prices and volatility (BP Statistical Review of World Energy, 2014)
Oil prices and volatility (BP Statistical Review of World Energy, 2014)

The global price of oil has been stable as never before, despite some of the world’s biggest disruptions to supply. The dynamics of oil price movements are important to policymakers, consumers and producers given their significant impact on economic and financial developments. Oil enters into every aspect of modern economies. Fears about spikes in oil price have failed to materialise, but experience shows that oil price movements can quickly change.

<i>One of the key themes of BP’s latest Statistical Review of World Energy (2014) is the unprecedented stability of oil price over three consecutive years since 1970, despite some of the world’s largest supply disruptions. Several ...

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