Oil Crises
Human conflicts cause most disruptions in world oil supply. The most significant disruption was caused by the Iranian Revolution of 1978-1979, which cut the worldwide flow by 5.6 million barrels a day for six months. Here are the biggest dips measured in millions of barrels lost per day:
Nov. 1956-March 1957 | Suez Crisis | 2 |
June 1967-Aug. 1967 | Six-Day War | 2 |
Oct. 1973-March 1974 | Arab-Israeli War | 4.3 |
Nov. 1978-April 1979 | Iranian Revolution | 5.6 |
Oct. 1980-Jan.1981 | Iran-Iraq War | 4.1 |
Aug. 1990-Jan. 1991 | Gulf Crisis | 4.3 |
June 2001-July 2001 | June 2001-July 2001 | 2.1 |
Dec. 2002-March 2003 | Venezuelan Strike | 2.6 |
March 2003-Dec. 2003 | War in Iraq | 2.3 |
Source: International Energy Agency
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