Invasion of Kuwait their retreat. In early 1990 Iraq was accusing Kuwait of stealing Iraqi petroleum through slant drilling, although some Iraqi sources indicated Saddam Hussein's decision to attack Kuwait was made a few months before the actual invasion. Some feel there were several reasons for the Iraqi move, including Iraq's inability to pay the more than US$14 billion that it had borrowed to finance the Iran–Iraq War, and Kuwaiti high petroleum production levels which kept revenues down for Iraq. The invasion started on 2 August 1990, and within two days most of the Kuwait Armed Forces were either overrun by the Iraqi
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