In October, all 13 OPEC members align on a compromise $32 per barrel benchmark.
OPEC appears to lose control over world oil prices.
OPEC agrees to individual output quotas and cuts prices by $5 to $29 per barrel.
See: 1990–1999 world oil market chronology Sources include: Dow Jones (DJ), Financial Times (FT), New York Times (NYT), and Platt's Oilgram News (PON), Washington Post (WP), and the Wall Street Journal (WSJ).
Sources include: Dow Jones (DJ), New York Times (NYT), and the Washington Post (WP).