Crude oil price movements and their impact on South Africa
Journal of Energy in Southern Africa
Energy Research Centre, University of Cape Town, South Africa
The purpose of this paper is to examine crude oil price movements and their impact on South Africa. A useful starting point is understanding the factors that have played a prominent role in influencing oil pricing. For this reason, I begin by focusing on OPEC producing countries and the challenges these countries face with supply management. After considering domestic oil pricing and accounting for fluctuations in crude oil price movements, I examine the domestic impact of oil price changes on the South African economy.