1984 world oil market chronology

February - March: Iran captures Najnoon Islands.
March 27: Beginning of "tanker war." Over the next nine months, 44 ships, including Iranian, Iraqi, Saudi Arabian and Kuwaiti tankers, are attacked by Iraqi or Iranian warplanes or damaged by mines.
March - June: Iran mobilizes 500,000 troops to southern front. No offensive materializes.
May 26: President Ronald Reagan rules out U.S. military intervention.
June: Civilian target truce in Iran-Iraq war.
October: Norway and Britain cut prices in response to falling spot market. Nigeria follows, renewing pressure on OPEC price cuts.
October 17: OPEC cuts production to 16 MMB/D, but agreement is negated by cheating and price-discounting.

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