1985 world oil market chronology Navigation menuexpanding ite


Oil market timelines1985 in economicsHistory stubs







  • January: Nine OPEC members adjust prices to cut gap between light and heavy crudes from $4 to $2.40 per barrel. Saudi light price cut one dollar to $28 per barrel.


  • March 11–19: Iranian offensive; heavy casualties.


  • May–June: "Battle of the cities" - heavy bombing from both Iran and Iraq.


  • June: OPEC output falls to 20-year low of 13.7 MMB/D.


  • June: Iran begins hit-and-run raids on Iraq.


  • July: OPEC loses customers to cheaper North Sea oil. More OPEC price cuts.


  • August: Saudi Arabia links prices to spot market. Output rises from 2 MMB/D in August to 5 MMB/D in early 1986.


  • August 15: First Iraqi air raid on Iran's main oil export terminal, Kharg Island.


  • November 6: Exploratory well in Ranger, Texas, blows out, spilling 150,000 BBLS of crude oil.


  • December: OPEC output hits 18 MMB/D boosting a glut and triggering a price war.






previous year:
1984 world oil market chronology
This article is part of the
Chronology of world oil market events (1970-2005)
 following year:
1986 world oil market chronology









-

Popular posts from this blog

Is there any pythonic way to find average of specific tuple elements in array?sum of small double numbers...

Image
How bug prioritization works in agile projects vs non agile Creating a chemical industry from a medieval tech level without petroleum What is this word supposed to be? "The cow" OR "a cow" OR "cows" in this context "My boss was furious with me and I have been fired" vs. "My boss was furious with me and I was fired" My bank got bought out, am I now going to have to start filing tax returns in a different state? A strange hotel Does a large simulator bay have standard public address announcements? What was Apollo 13's "Little Jolt" after MECO? How do I deal with a coworke...
Read more

Word for something that's always reliable, but never the best?A word looks similar to “frail” but means...

Image
What kind of places would goblins live in a fantasy setting with strong states? Crack the bank account's password! Why did Luke use his left hand to shoot? Can my friend and I spend the summer in Canada (6 weeks) at 16 years old without an adult? How to completely remove a package in Ubuntu (like it never existed) "Starve to death" Vs. "Starve to the point of death" How can I give a Ranger advantage on a check due to Favored Enemy without spoiling the story for the player? Non-Cancer terminal illness that can affect young (age 10-13) girls? Why is 'diphthong' not pronounced otherwise? Where does docum...
Read more

Can we harness potential energy?Why can't we harness gravity?Storing kinetic energy instead of potential...

Image
What is the wife of a henpecked husband called? How much mayhem could I cause as a sentient fish? How to deal with possible delayed baggage? Move fast ...... Or you will lose Ellipses aligned on the same boundary point Can I announce prefix 161.117.25.0/24 even though I don't have all of /24 IPs? What to look for when criticizing poetry? Why do neural networks need so many training examples to perform? Has Britain negotiated with any other countries outside the EU in preparation for the exit? Why was Lupin comfortable with saying Voldemort's name? Has any human ever had the choice to l...
Read more