OPEC Agreements and Price Stabilization Efforts (1999–2001)

1. Oil prices slump after 1998 oversupply

   Dec 1, 1998Labels: Oil market, Asian financial

   • EIA History
   • Britannica OPEC

2. The Hague talks outline coordinated supply cuts

   Mar 12, 1999Labels: The Hague, OPEC

   • CNN 1999
   • RFE RL 1999

3. Vienna agreement sets major OPEC-led cuts

   Mar 23, 1999Labels: Vienna agreement, OPEC

   • CNN 1999
   • OGJ 1999

4. OPEC reaffirms cuts amid improving prices

   Sep 24, 1999Labels: OPEC ministers, Production quotas

   • OGJ 1999
   • UPI 1999

5. OPEC adopts a $22–$28 price band

   Mar 1, 2000Labels: Price band, OPEC basket

   • CNN 2000
   • UT Austin

6. OPEC begins reversing cuts as prices rise

   Mar 31, 2000Labels: OPEC vote, Production increase

   • OGJ 2000

7. June 2000 Vienna meeting raises quotas again

   Jun 21, 2000Labels: Vienna meeting, OPEC quotas

   • OGJ 2000
   • CNN 2000

8. OPEC agrees to another large output hike

   Sep 10, 2000Labels: OPEC ministers, Output hike

   • UPI 2000

9. Price-band mechanism triggers extra quota increase

   Oct 31, 2000Labels: Price-band mechanism, OPEC quotas

   • CNN 2000
   • UT Austin

10. OPEC agrees to 1.5 million bpd cut

    Jan 17, 2001Labels: OPEC cut, Production reduction

    • Guardian 2001
    • Chronicle 2001

11. February 2001 cuts take effect amid uncertainty

    Feb 1, 2001Labels: Quota implementation, OPEC

    • Chronicle 2001

12. OPEC orders another 1 million bpd cut

    Mar 16, 2001Labels: OPEC cut, March 2001

    • WashPost 2001