1988 world oil market chronology
Encyclopedia
Wide use of crude formula pricing in 1988.
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1987 world oil market chronology
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Chronology of world oil market events (1970-2005)
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1989 world oil market chronology
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- February: 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 meeting set. - March: OPEC/Non-OPEC meeting failure.
- July: IranIranIran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
accepts cease fire. - October 14: Crude oil prices jump in anticipation of possible production accord at Gulf Cooperation Council meeting set for October 16.
- November 28: OPEC reaches production accord. Six-month agreement to set production at 18.5 MMB/D. Although the recent OPEC quota had been 19.0 MMB/D, actual OPEC production had been closer to 21.0 MMB/D.
- December: FulmarFulmarFulmars are seabirds of the family Procellariidae. The family consists of two extant species and two that are extinct.-Taxonomy:As members of Procellaridae and then the order Procellariiformes, they share certain traits. First, they have nasal passages that attach to the upper bill called...
/BrentBrent CrudeBrent Crude is the biggest of the many major classifications of crude oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg, Ekofisk, and Forties . Brent Crude is sourced from the North Sea. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum...
outages.
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1987 world oil market chronology
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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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1989 world oil market chronology
1989 world oil market chronology
*March 23: Exxon tanker Valdez runs aground, spilling of crude oil in the waters of Prince William Sound's Bligh Reef. Oil prices react upward to news of the spill and to potential shortages on the west coast caused by refinery fires there....
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