1990 oil price shock and prices began to fall. On August 2, 1990, The Republic of Iraq invaded the State of Kuwait, leading to a 7-month occupation of Kuwait and an eventual U.S.-led military intervention. While Iraq officially claimed Kuwait was stealing its oil via slant drilling, its true motives were more complicated and less clear. At the time of the invasion, Iraq owed Kuwait $14 billion of outstanding debt that Kuwait had loaned it during the 1980–1988 Iran–Iraq War. In addition, Iraq felt Kuwait was overproducing oil, lowering prices and hurting Iraqi oil profits in a time of financial stress. In the buildup
Palestinian exodus from Kuwait (1990–91) force. The massive exodus of Palestinians from Kuwait began with the Iraqi invasion into the country in summer 1990. The exodus included both Kuwaitis and Palestinians, who were forming a large percentage of Kuwaiti residents. Out of initial 350,000 people of Palestinian descent who resided in Kuwait in mid-1990, more than 200,000 fled Kuwait during the Iraqi occupation of Kuwait, due to harassment and intimidation by Iraqi security forces, in addition to getting fired from work by Iraqi authority figures in Kuwait. The Iraqi education ministry in Kuwait fired 3,000 Palestinians in September 1990, and the dismissals of Palestinians from