Reverse Oil Shock

Japanese: 逆オイル・ショック - ぎゃくおいるしょっく

...As a result, oil became oversupplied and OPEC was forced to make large cuts in production, leading to a first reduction in the price of crude oil by $5 per barrel in March 1983, the first such reduction since the group was formed. This situation is the exact opposite of the triple whammy of oil-importing countries caused by soaring prices, and oil-exporting countries are suffering. This phenomenon has been called the reverse oil shock. For oil-importing countries, the reduction in oil prices will bring about triple benefits: (1) curbing inflation, (2) boosting the economy, and (3) improving the balance of payments, and should be welcomed in the short term. ...

From the Oil Industry

...This is because oil-producing countries have decided to sell oil on their own.
[OPEC and the majors after the reverse oil shock]
Two or three years after the second oil crisis, the oil market has softened considerably. As oil prices rose, firstly, economic growth slowed, secondly, energy conservation progressed, and thirdly, alternative energy sources to oil, such as coal, natural gas, and atomic energy, were developed.

*Some of the terminology used to refer to a "reverse oil shock" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

Japanese:

…その結果として，石油はだぶつき，OPECは大幅な減産を余儀なくされ，ついに83年3月にOPECは原油価格を1バレル当り5ドル引き下げるという，OPEC結成以来初めての事態が生じた。価格高騰による石油輸入国側の三重苦をまさに裏返しした事態が生じ，石油輸出国側は苦悩しており，これが逆オイル･ショックといわれる現象である。石油輸入国側では，石油価格引下げは，(1)インフレ抑制，(2)景気上昇，(3)国際収支の改善といった三重善をもたらすことになり，短期的にはおおいに歓迎すべきであろう。…

【石油産業】より

…産油国が独力で石油販売を行っていく方針を固めたからである。
［逆オイル･ショック後のOPECとメジャー］
　第2次石油危機後2～3年を経て，石油市況は大幅に軟化してきた。石油価格の上昇に伴い，第1に経済成長が鈍化し，第2に省エネルギーが進展し，第3に石炭，天然ガス，原子力などの石油代替エネルギーが開発されたからである。…

※「逆オイル・ショック」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典第２版について | 情報

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