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

1. OPEC moves to enforce early-1990 output ceiling

   May 3, 1990Labels: OPEC

   • UPI Archives

2. OPEC raises price target and sets higher ceiling

   Jul 27, 1990Labels: OPEC

   • LATimes
   • UPI Archives

3. Iraq invades Kuwait, triggering immediate supply risk

   Aug 2, 1990Labels: Iraq, Kuwait

   • Britannica

4. UN Security Council imposes broad trade sanctions

   Aug 6, 1990Labels: UN Security

   • UN Docs
   • UNSCR 661

5. UN authorizes maritime enforcement of the embargo

   Aug 25, 1990Labels: UN Security

   • UN Docs
   • UNSCR 665

6. Saudi Arabia rapidly increases output to offset losses

   Oct 1, 1990Labels: Saudi Arabia

   • OilGas J

7. UN authorizes force if Iraq misses withdrawal deadline

   Nov 29, 1990Labels: UN Security

   • UN Docs
   • UNSCR 678

8. Coalition air campaign begins, intensifying supply anxiety

   Jan 17, 1991Labels: Operation Desert, Coalition forces

   • Britannica
   • DOE SPR

9. IEA triggers coordinated emergency oil response

   Jan 17, 1991Labels: International Energy

   • UPI Archives

10. U.S. begins first-ever Strategic Petroleum Reserve sale

    Feb 5, 1991Labels: United States, Strategic Petroleum

    • DOE SPR

11. Retreating Iraqi forces ignite Kuwait’s oil well fires

    Feb 9, 1991Labels: Kuwait

    • GulfLINK
    • Britannica

12. OPEC agrees to reduce output after war-driven glut

    Mar 12, 1991Labels: OPEC

    • Washington Post

13. UN sets formal ceasefire terms and keeps sanctions leverage

    Apr 3, 1991Labels: UN Security, Iraq

    • UN Docs
    • UNSCR 687

14. OPEC members’ output surge covers most Iraq–Kuwait loss

    Jun 30, 1991Labels: OPEC, Saudi Arabia

    • OilGas J

15. Last Kuwaiti oil well capped, closing the immediate shock

    Nov 6, 1991Labels: Kuwait

    • GulfLINK