1987 world oil market chronology
Encyclopedia
- January: OPECOPECOPEC is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings...
price accord begins to deteriorate. - February: OPEC majors stick to fixed prices.
- June–August: Gulf warGulf WarThe Persian Gulf War , commonly referred to as simply the Gulf War, was a war waged by a U.N.-authorized coalition force from 34 nations led by the United States, against Iraq in response to Iraq's invasion and annexation of Kuwait.The war is also known under other names, such as the First Gulf...
escalates. - December: OPEC meeting failure.
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1986 world oil market chronology
1986 world oil market chronology
Average world oil prices fall by over 50 percent in 1986. There is wide use of netback pricing in 1986.*January 7: The United States invokes the International Emergency Economic Powers Act, halting imports of all goods and services of Libyan origin...
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Chronology of world oil market events (1970-2005)
Chronology of world oil market events (1970-2005)
-1970:*January 1: U.S. Federal oil depletion allowance reduced from 27.5 to 22.0 percent.*May 3: TAP line from Saudi Arabia to the Mediterranean interrupted in Syria, creating all-time tanker rate highs from June to December....
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1988 world oil market chronology
1988 world oil market chronology
Wide use of crude formula pricing in 1988.*February: OPEC price meeting set.*March: OPEC/Non-OPEC meeting failure.*July: Iran accepts cease fire....
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