After making landfall, Lola weakened to a tropical storm as it emerged over the South China Sea on December 6, before re-strengthening into a typhoon.

After strengthening into a typhoon, Lola began to quickly intensify, reaching its peak intensity with 1-min winds of 195 km/h (120 mph) on December 8 at 12:00 UTC.

Flooding from Lola in Marinduque and the subsequent dam collapse in Mogpog was part of the lead-up to the Marcopper mining disaster that happened nearly 3 years later.

On November 27 at 6:00 UTC, the Joint Typhoon Warning Center (JTWC) began monitoring an area of convection situated near the western Marshall Islands.

On December 1 at 4:00 UTC, the JTWC issued a Tropical Cyclone Formation Alert (TCFA) due to a consolidation of convection near the center.

[2] Hours later at 6:00 UTC, the Japan Meteorological Agency (JMA) began issuing advisories on a tropical depression about 950 km south-southeast of Guam.

[5][3] Lola took a west-southwestward track as it passed over the Philippines and south of Manila, weakening into a severe tropical storm in the process.

[7][8] On December 5, Lola caused a major flood in Naga City, with water up to 2 meters deep inundating areas around the Bicol River.

[1] A military cargo plane crashed while delivering supplies to areas affected by Lola due to bad weather caused by a nearby tropical depression.

[13] Power lines were cut throughout the country and air and sea travel were suspended due to strong winds, with stock exchanges, government offices, and classes being temporarily closed down.

[18] In Vietnam, more than 9 thousand houses were ruined and 500 fishing boats being damaged or lost, with 16,500 hectares of corn, cassava, and tobacco being destroyed.