The Full Wiki

More info on 1978 world oil market chronology

1978 world oil market chronology: Wikis

Advertisements
  

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

  • January: Student protests against government of Reza Pahlavi, Shah of Iran, begin, touching off a wave of political unrest and violent clashes between police and demonstrators. Throughout the year increasing anti-Shah activities are led by Muslim fundamentalists seeking to establish a Muslim state.
  • March: Amoco Cadiz tanker runs aground off the coast of France, spilling 1.6 million barrels of crude oil. (Largest crude spill to date.)
  • June Iran and Saudi Arabia block efforts of OPEC price hawks to fix the price of OPEC oil in a currency more stable than the U.S. dollar. Say world economy cannot support associated price increases. Are accused by hawks of being U.S. agents.
  • September: Shah puts Iran under military rule. Muslim leader Noori arrested in crackdown of opposition groups.
  • October: Iranian strikes; departure of foreign technicians. Pipeline fire drops Iraqi production from 600,000 barrels per day (95,000 m3/d) to 300,000 barrels per day (48,000 m3/d).
  • November: Iranian oil production starts dropping.
  • December: Iranian production hits 1.5 MMB/D in mid-December; 500,000 on December 27, a 27-year low. OPEC production rises 1.6 MMBD over two months due to increased Saudi production.
  • December 17: OPEC decides on a 14.5 percent price increase for 1979, to be implemented quarterly.
previous year:
1977 world oil market chronology
This article is part of the
Chronology of world oil market events (1970-2005)
following year:
1979 world oil market chronology

Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message