World oil prices once again soared 13% in August 1990 because of the Gulf war between Iraq and the coalition of more than 30 countries by the us leadership to liberate Kuwait.After the war, the United Nations imposed a ban on the export of oil for the full Iraq and Kuwait. This embargo has itself taken away by world oil market of nearly 5 million barrels per day, making the price rise.This fever lasts for 9 months and the price does not exceed the top of the previous crises (1973 and 1979-1980). At that time, each barrel of oil more expensive doubles in just two months, from 17 USD up 36 USD per barrel. Just when the American coalition forces led troops to liberate Kuwait, new supply shortages and prices start lower.This crisis is partly the cause leading to economic recession in the us with the collapse of the credit markets.
đang được dịch, vui lòng đợi..