By Nursyarifah
Oil Bust Pales In Comparison To The 80’s
Source: Arthur Andersen, CERIIn 1978 Iran produced 5.2 mmb/d. Religious insurgents overthrew the Shah of Iran in 1979, which caused oil prices to spike and production to decline. Within two years, Iran’s output had fallen by more than 3.5 mmb/d or 68 percent. Sensing a weakened and intensely disliked...
economic, oil
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