WORLD HISTORY

Detailed explanation-1: -Iraq blamed Kuwait and the United Arab Emirates for the price drop, claiming that it was caused by the overproduction of crude oil by those countries in disregard of the national production quota set for them by the Organization of Petroleum Exporting Countries (OPEC).

Detailed explanation-2: -Iraq’s leader, Saddam Hussein, ordered the invasion and occupation of Kuwait to acquire the nation’s large oil reserves, cancel a large debt Iraq owed Kuwait, and expand Iraqi power in the region.

Detailed explanation-3: -As the first Gulf War drew to a close in February of 1991, retreating Iraqi forces systematically blew up oil wells, tanks, refineries, and other facilities in Kuwait. According to some estimates, the resulting fires burned four to six million barrels of crude oil per day.

Detailed explanation-4: -Kuwait did not steal oil from Iraq, oil was produced from the same reservoir as is produced on the other side of the border. This happens elsewhere, as oilfields do not respect international boundaries. In most cases, the appropriate shares are agreed and managed jointly.

Detailed explanation-5: -On August 2, 1990, at about 2 a.m. local time, Iraqi forces invade Kuwait, Iraq’s tiny, oil-rich neighbor. Kuwait’s defense forces were rapidly overwhelmed, and those that were not destroyed retreated to Saudi Arabia.

Detailed explanation-6: -The primary rationalization for the Iraq War was articulated by a joint resolution of the United States Congress known as the Iraq Resolution. The US claimed the intent was to “disarm Iraq of weapons of mass destruction, to end Saddam Hussein’s support for terrorism, and to free the Iraqi people".