Английская Википедия:1980–1989 world oil market chronology

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Шаблон:Short description Шаблон:More citations needed

1980

  • March 1: United States federal Windfall Profits Tax enacted.
  • May: Saudi Light raised to $28.00 per barrel, retroactive to April 1.
  • April–September:  : Buy-Sell Program allocations drop to average of Шаблон:Convert for period April to September 1980.:
  • September 17: Iraq breaks 1975 treaty with Iran and proclaims sovereignty over Shatt al-Arab waterway.
  • September 23: Iraq invades Iran. Mutual bombing of installations.
  • November 10: Iraq captures southern port of Khorramshahr.
  • November 20–24: U.N. gulf war mediator Olof Palme makes first unsuccessful peace shuttle between Tehran and Baghdad.
  • December: Collapse of OPEC's pricing structure. Saudis use $32 per barrel marker, others use $36 per barrel benchmark.

1981

Saudis flood market with inexpensive oil in 1981, forcing unprecedented price cuts by OPEC members. In October, all 13 OPEC members align on a compromise $32 per barrel benchmark. Later, benchmark price is maintained, but differentials are adjusted.

  • January: Iraq repels first major Iranian offensive.
  • January 28: President Reagan lifts remaining domestic petroleum price and allocation controls originally scheduled to expire in September 1981.
  • April: After meetings in Baghdad and Teheran, attempts by nine Islamic Conference leaders to mediate peace between Iraq and Iran fail.
  • Aug: Windfall profits tax reduced.
  • September 27–28: Iran defends its besieged port of Abadan, driving back Iraqi forces.
  • Oct: OPEC reaches an agreement to unify crude price at $32 per barrel through 1982 and sets an ultimate price ceiling of $38 per barrel.
  • November 29: Major Iranian offensive mounted on central front.

1982

Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices.

  • March: Damascus closes Iraq's Шаблон:Convert trans-Syrian oil export pipeline to show support for Iran.
  • March 11: U.S. boycotts Libyan crude.
  • May 24:Iran recaptures Khorramshahr.
  • June: Iran demands $150 billion in war reparations; pledges war until Iraq's Hussein stands trial.
  • June 10: Iraq declares unilateral cease-fire.
  • Jul 13: Iran launches first attack into Iraq.

1983

Oil glut takes hold. Demand falls as a result of conservation, use of other fuels and recession. OPEC agrees to limit overall output to Шаблон:Convert. OPEC agrees to individual output quotas and cuts prices by $5 to $29 per barrel.

  • March: Chicago Board of Trade (CBOT) and New York Mercantile Exchange (Nymex) enable the trading of crude oil futures contracts.[1]
  • April/May: CBOT contracts have delivery problems. Customers move to Nymex[1]
  • April: Iraq increases missile attacks on Iran.
  • Jul 20-30: Iran moves into northern Iraq. Casualties top 13,800 in ten days.
  • Jul 26: U.S. threatens action to preserve navigation in Persian Gulf.
  • Jul-Aug: Heavy fighting and casualties in Iran-Iraq war.
  • Oct: Iran attacks northern Iraq, threatening Kirkuk pipeline.

1984

  • February - March: Iran captures Majnoon Islands.
  • March 27: Beginning of "tanker war." Over the next nine months, 44 ships, including Iranian, Iraqi, Saudi Arabian and Kuwaiti tankers, are attacked by Iraqi or Iranian warplanes or damaged by mines.
  • March - June: Iran mobilizes 500,000 troops to southern front. No offensive materializes.
  • May 26: President Reagan rules out U.S. military intervention.
  • June: Civilian target truce in Iran-Iraq war.
  • Oct: Norway and Britain cut prices in response to falling spot market. Nigeria follows, renewing pressure on OPEC price cuts.
  • October 17: OPEC cuts production to Шаблон:Convert, but agreement is negated by cheating and price-discounting.

1985

  • 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 Шаблон:Convert.
  • June: Iran begins hit-and-run raids on Iraq.
  • July: OPEC loses customers to cheaper North Sea oil. More OPEC price cuts.
  • Aug: Saudi Arabia links prices to spot market. Output rises from Шаблон:Convert in August to Шаблон:Convert in early 1986.
  • Aug 15: First Iraqi air raid on Iran's main oil export terminal, Kharg Island.
  • November 6: Exploratory well in Ranger, Texas, blows out, spilling Шаблон:Convert of crude oil.
  • December: OPEC output hits Шаблон:Convert boosting a glut and triggering a price war.

1986

Average world oil prices fall by over 50 percent in 1986. There is wide use of netback pricing in 1986.

  • February 3–4: OPEC fails to agree upon a production accord after a two-day meeting in Vienna.
  • February: Iran captures southern Faw peninsula, starts northern offensive.
  • May 7: Iraq bombs Tehran refinery.
  • June: OPEC production-cut talks fail, ending in a tentative majority pact on an average 1986 ceiling of Шаблон:Convert.
  • June 8: Iraqi jets attack Assadabad satellite station.
  • July: Brent price dips under $9 per barrel. OPEC production rises to Шаблон:Convert.
  • Jul 27: Iraqi jets attack central Iranian city of Arak. Iran threatens missile attack of gulf states supporting Iraq.
  • Aug 2: Hussein offers peace in open letter to Iran.
  • Aug 4: Reports of probable OPEC agreement on output quotas sends oil prices higher.
  • Aug 12: Iran fires missile at refinery near Baghdad. Iraq raids Iranian terminal at Sirri Island severely disrupting Iranian exports.
  • December 19: OPEC reaches an accord that would cut production by seven percent for the first six months of 1987 (from Шаблон:Convert to Шаблон:Convert) and would raise prices immediately toward a target world oil price of $18 per barrel.

1987

  • January: OPEC price accord begins to deteriorate.
  • February: OPEC majors stick to fixed prices.
  • Jun-Aug: Gulf war escalates.
  • December: OPEC meeting failure.

1988

  • February: OPEC price meeting set.
  • March: OPEC/Non-OPEC meeting failure.
  • July: Iran 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 Шаблон:Convert. Although the recent OPEC quota had been Шаблон:Convert, actual OPEC production had been closer to Шаблон:Convert.
  • December: Fulmar/Brent outages.

1989

See also

References

Шаблон:Reflist

  1. 1,0 1,1 The Asylum, Leah McGrath Goodman, 2011, HarperCollins, p90-91