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Updated:Apr 23, 2026
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Gulf War Supply Shocks and OPEC Decisions (1990–1991)

Gulf War Supply Shocks and OPEC Decisions (1990–1991)

  1. OPEC moves to enforce early-1990 output ceiling

    Labels: OPEC
  2. Iraq invades Kuwait, triggering immediate supply risk

    Labels: Iraq, Kuwait
  3. UN Security Council imposes broad trade sanctions

    Labels: UN Security
  4. UN authorizes maritime enforcement of the embargo

    Labels: UN Security
  5. Saudi Arabia rapidly increases output to offset losses

    Labels: Saudi Arabia
  6. UN authorizes force if Iraq misses withdrawal deadline

    Labels: UN Security
  7. Coalition air campaign begins, intensifying supply anxiety

    Labels: Operation Desert, Coalition forces
  8. IEA triggers coordinated emergency oil response

    Labels: International Energy
  9. U.S. begins first-ever Strategic Petroleum Reserve sale

    Labels: United States, Strategic Petroleum
  10. Retreating Iraqi forces ignite Kuwait’s oil well fires

    Labels: Kuwait
  11. OPEC agrees to reduce output after war-driven glut

    Labels: OPEC
  12. UN sets formal ceasefire terms and keeps sanctions leverage

    Labels: UN Security, Iraq
  13. OPEC members’ output surge covers most Iraq–Kuwait loss

    Labels: OPEC, Saudi Arabia
  14. Last Kuwaiti oil well capped, closing the immediate shock

    Labels: Kuwait