Kuwait Kuwait declined an Iraqi request to forgive its US$65 billion debt. An economic rivalry between the two countries ensued after Kuwait increased its oil production by 40 percent. Tensions between the two countries increased further in July 1990, after Iraq complained to OPEC claiming that Kuwait was stealing its oil from a field near the border by slant drilling of the Rumaila field. In August 1990, Iraqi forces invaded and annexed Kuwait. After a series of failed diplomatic negotiations, the United States led a coalition to remove the Iraqi forces from Kuwait, in what became known as the Gulf War.
Ba'athist Iraq the market with their oil. The result was that international oil prices were still at the 1970s level. In October 1988, because of Kuwait and the UAE, international oil prices had fallen to US$12 per barrel. The policy which the UAE (and especially Kuwait) followed hampered Iraq's economic growth. In the Iran–Iraq War's aftermath, Iraq had grown more dependent on oil prices. The result of Kuwait and the UAE's oil policies could be felt in 1990, when international oil prices decreased to US$13.67 per barrel. This time, the sudden fall in oil prices triggered reactions in Iraq; in "Al-Thawra", the