Following the oil price shock of 1990 caused by the invasion of Kuwait by Saddam Hussein's Iraq, oil prices soared from 17 dollars per barrel to 36 dollars per barrel.
The demand for oil in this decade was enormous and oil companies carried out a lot of researches to discover oil. During the 1990s, oil companies began to access discovered oil deposits in places like Alaska, the gulf of Mexico, the Caspian sea and many other places to supply the rising demands.
