1988 world oil market chronology

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Wide use of crude formula pricing in 1988.

  • February: OPEC price meeting set.
  • March: OPEC/Non-OPEC meeting failure.
  • July: Iran accepts cease fire.
  • October 14: Crude oil prices jump in anticipation of possible production accord at Gulf Cooperation Council meeting set for October 16.
  • November 28: OPEC reaches production accord. Six-month agreement to set production at 18.5 MMB/D. Although the recent OPEC quota had been 19.0 MMB/D, actual OPEC production had been closer to 21.0 MMB/D.
  • December: Fulmar/Brent outages.
previous year:
1987 world oil market chronology
This article is part of the
Chronology of world oil market events (1970-2005)
following year:
1989 world oil market chronology