Oil sector 80's chronology "Lel Bruce Peto" restating..1986...

Oil sector 80's chronology "Lel Bruce Peto" restating..
Oil & Gas Chronology :  The 1980’s



1986 
Average world oil prices fall by over 50 percent in 1986. There is wide 
use of netback pricing in 1986. 

Feb 3-4 

OPEC fails to agree upon a production accord after a two-day meeting in 
Vienna.

Feb 

Iran captures southern Faw peninsula, starts northern offensive. 

May 7 

Iraq bombs Tehran refinery.

Jun 

OPEC production-cut talks fail, ending in a tentative majority pact on an 
average 1986 ceiling of 17.6 MMB/D.

Jun 8 

Iraqi jets attack Assadabad satellite station.

Jul 

Brent price dips under $9 per barrel. OPEC production rises to 20 MMB/D.

Jul 27 

Iraqi jets attack central Iranian city of Arak. Iran threatens missile 
attack of gulf states supporting Iraq.

Aug 2 

Hussein offers peace in open letter to Iran.

Aug 4 

Reports of probable OPEC agreement on output quotas sends oil prices 
higher.

Aug 12 

Iran fires missile at refinery near Baghdad. Iraq raids Iranian terminal 
at Sirri Island severely disrupting Iranian exports. 

Dec 19 

OPEC reaches an accord that would cut production by seven percent for the 
first six months of 1987 (from 17 MMB/D to 16 MMB/D) and would raise 
prices immediately toward a target world oil price of $18 per barrel.

Received on Saturday, 15 February 2003 17:39:59 UTC