1992 world oil market chronology

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• January: Kuwait reports oil production of 400,000 B/D; insists on restoration of its pre-invasion OPEC quota of 1.5 MMB/D.
• March: UN threatens sanctions against Libya for its refusal to extradite suspected terrorists.
• March: CIS announces that 1991 crude exports dropped by 52%.
• May: Saudi Arabia supports a crude oil price hike during a late-month OPEC meeting. NYMEX Futures prices exceed $22 per barrel.
• October: OPEC production reaches highest level in more than a decade at 25.25 MMB/D.
• December: U.S., Mexico, and Canada sign NAFTA multi-lateral free trade agreement.

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This article is part of the Chronology of world oil market events (1970-2005)

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