VOL. XXXIV

NO.16

21-JANUARY-1991

Gulf War Leaves Oil Supplies Intact So Far

The outbreak of a shooting war in the Gulf - starting off with a massive air assault against Iraq by the US-led multinational force one day after the expiry of the 15 January UN deadline for the Iraqi withdrawal from Kuwait - has so far left the world's oil supplies intact. So much so, in fact, that the oil traders' perception of a world-wide oversupply has contributed to a spectacular price crash, with...