1. Cody Mitchell Katerina Koule Vasiliki Pantzia

2. History of oil crisis and oil wars

3. OPEC – The leader of the oil market  “Organization of the Petroleum Exporting Countries”  79% of world crude oil reserves  44% of the world’s crude oil production

4. Oil crisis of 1973  Occurred by the OPEC’s embargo to USA, Japan and Western Europe.  Net loss of 4 million barrels/day  7.5% of the global output

5. Oil crisis of 1973 October 1973 - $21.06 per barrel March 1974 - $47.41 per barrel Annual change – 147%

6. Oil crisis of 1990-91  Occurred due to the Gulf War (August 1990-February 1991)  32 nations led by the United States against Iraq.

7. Oil crisis of 1990-91 August 1990 - $36 per barrel February 1991 - $56.39 per barrel Annual change – 65%

8. Oil crisis 2003  Occurred due to the Iraq War.  March 2003 – invasion of USA and UK in Iraq

9. Oil crisis 2003 March 2003 – $40 per barrel July 2008 - $136 per barrel

10. Extract from the History Chanel documentary “History of Oil”

11.  Thank You