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2011–2013 World Oil Market Chronology
2011 Arab Spring, Political turmoil in Egypt, Libya, Yemen, and Bahrain drove oil prices to $95/barrel in late February 2011. A few days prior, oil prices on the NYMEX closed at $86. Oil prices topped at $103 on February 24 where oil production is curtailed to the political upheaval in 2011 Libyan civil war, Libya. Oil supplies remained high, and Saudi Arabia assured an increase in production to counteract shutdowns. Still, the Mideast and North African crisis led to a rise in oil prices to the highest level in two years, with gasoline prices following. Though most Libyan oil went to Europe, all oil prices reacted. The average price of gasoline in the United States increased 6 cents to $3.17. On March 1, 2011, a significant drop in Libyan production and fears of more instability in other countries pushed the price of oil over $100 a barrel in New York trading, while the average price of gas reached $3.37. Despite Saudi promises, the Sour crude oil, sour type oil the country expo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arab Spring
The Arab Spring ( ar, الربيع العربي) was a series of Nonviolent resistance, anti-government protests, Rebellion, uprisings and Insurgency, armed rebellions that spread across much of the Arab world in the early 2010s. It began in Tunisian Revolution, Tunisia in response to corruption and economic stagnation. From Tunisia, the protests then spread to five other countries: Libya, Egypt, Yemen, Syria and Bahrain. Rulers were deposed (Zine El Abidine Ben Ali, Muammar Gaddafi, Hosni Mubarak, Ali Abdullah Saleh) or major uprisings and social violence occurred including riots, civil wars, or insurgencies. Sustained street demonstrations took place in Morocco, Iraq, Algeria, Lebanon, Jordan, Kuwait, Oman and Sudan. Minor protests took place in Djibouti, Mauritania, State of Palestine, Palestine, Saudi Arabia and the Southern Provinces, Moroccan-occupied Western Sahara. A major slogan of the demonstrators in the Arab world is ''Ash-shab yurid isqat an-nizam, ash-shaʻb yurīd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
