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Petroleum economics | HearLore
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Petroleum economics
1980s oil glutThe world price of oil had peaked in 1980 at over US$35 per barrel. This high cost triggered a wave of conservation efforts across industrial nations.
1973 oil crisisIn 1948, the Israeli Declaration of Independence sparked decades of conflict between Arabs and Israelis. The Suez Crisis of 1956 saw Egypt block Israel's…
OPECThe Organization of the Petroleum Exporting Countries began its life in Baghdad on the 14th of September 1960. Five nations gathered to sign a pact that…