90's:
World Oil Production , Pre Gulf War
All Countries had a Limited Share
Sanctions came on Iraqi Oil they were turned into poor nation
- Saudis paid a Massive Ransom to Americans to help Save them in First Gulf war
00's:
More sanctions on Iraqi Oil
More sanctions on Irani Oil
War with Iraq
<OIL ROSE NOW THERE IS LITTLE OIL IN MARKET>
Oil ...GOES UP $100 Massive profits made by oil sector
Saudia increased production
Russia increased production
USA increased production
USA burned tones of Fuel in Afghanistan/Libya / Iraq pilled up debt
10's:
Libiyan Oil decomissioned
Iran Sanctions lifted, iran makes some $$$$ by selling oil, however their oil production is same level as Saudis
<OIL CRASHED NOW THERE IS TOO MUCH OIL IN MARKET>
- Russia not happy
- Saudis worried about their budget
- Americans in USA happy oil is low but their government wants oil to rise as companies start to go bankrupt
- Canadian Oil based community feels pressure due to falling oil prices
2017-Present
Iran Oil sanctions back imposed
Venezuela faces sanctions
Nigerian Oil comes online and offline
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Saudis increased oil production
USA increased production
Russia carries on business as usual
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Europeans liked oil prices when Iran oil was online so they are going wait a second
we can get cheap oil if Iranian oil is back bring it back
Every one had a piece of pie until recently when some confusion arose around Turkey/Saudia and Washington Post writer
- Either Saudia refused to Pay more free money to USA or something happened behind the scene after Saudia decided to buy Russian S-300 weapons