1989 world oil market chronology

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  • March 23: Exxon tanker Valdez runs aground, spilling 11 million US gallons (42,000 m3) of crude oil in the waters of Prince William Sound's Bligh Reef. Oil prices react upward to news of the spill and to potential shortages on the west coast caused by refinery fires there.
  • June: OPEC raises their production ceiling to 19.5 million barrels (3,100,000 m3) per day.
previous year:
1988 world oil market chronology
This article is part of the
Chronology of world oil market events (1970-2005)
following year:
1990 world oil market chronology