Editing 2327: Oily House Index
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;{{w|1979 oil crisis|1979 energy crisis}} | ;{{w|1979 oil crisis|1979 energy crisis}} | ||
:In the wake of the {{w|Iranian Revolution}}, global oil supply reduced by only 4%, but caused widespread panic and a huge increase in oil price. | :In the wake of the {{w|Iranian Revolution}}, global oil supply reduced by only 4%, but caused widespread panic and a huge increase in oil price. | ||
β | ;{{w|Gulf War}} | + | ;The {{w|Gulf War}} (August 1990 - Feb 1991) |
β | :The | + | :The Gulf War (August 1990 - Feb 1991) was the invasion of Iraq by the US, which decreased oil supplies and caused a spike in prices. |
;1999 oil glut | ;1999 oil glut | ||
:In early 1999, Iraq increased its oil production, while the Asian Financial Crisis reduced demand. Prices briefly fell to as low as $16.[https://oilprice.com/Energy/Oil-Prices/A-Recent-History-Of-Oil-Prices-History-About-To-Repeat-Itself.html] | :In early 1999, Iraq increased its oil production, while the Asian Financial Crisis reduced demand. Prices briefly fell to as low as $16.[https://oilprice.com/Energy/Oil-Prices/A-Recent-History-Of-Oil-Prices-History-About-To-Repeat-Itself.html] |