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  2. 1970–1979 world oil market chronology - Wikipedia

    en.wikipedia.org/wiki/1970–1979_world_oil...

    Involves gradual 28 month increase of "old" oil price ceilings, and slower rate of increase of "new" oil price ceilings. June 26–28 : OPEC raises prices average of 15 percent, effective July 1. Oct : Buy-Sell Program sales average more than 400,000 bbl/d (64,000 m 3 /d) from October 1979 through March 1980 - highest level since February 1976 ...

  3. 1970s energy crisis - Wikipedia

    en.wikipedia.org/wiki/1970s_energy_crisis

    Graph of oil prices from 1861 to 2007, showing a sharp increase in 1973, and again in 1979. The orange line is adjusted for inflation. Independently, the OPEC members agreed to use their leverage over the world price-setting mechanism for oil to stabilize their real incomes by raising world oil prices. This action followed several years of ...

  4. 1973 oil crisis - Wikipedia

    en.wikipedia.org/wiki/1973_oil_crisis

    This page is subject to the extended confirmed restriction related to the Arab-Israeli conflict. West Texas Intermediate oil price history from 1950–2000, adjusted for inflation (1947 prices) In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the ...

  5. 1970s commodities boom - Wikipedia

    en.wikipedia.org/wiki/1970s_commodities_boom

    Sugar prices spiked in the 1970s because of Soviet Union demand/hoarding and possible futures contracts market manipulation. The Soviet Union was the largest producer of sugar at the time. In 1974, Coca-Cola switched over to high-fructose corn syrup because of the elevated prices. [6] [7] [verification needed] Sugar prices 1962–2022

  6. 1979 oil crisis - Wikipedia

    en.wikipedia.org/wiki/1979_oil_crisis

    A drop in oil production in the wake of the Iranian revolution led to an energy crisis in 1979. Although the global oil supply only decreased by approximately four percent, [2] the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to $39.50 per barrel ($248/m 3).

  7. Oil headed toward low $70s next year, says Citi - AOL

    www.aol.com/finance/oil-headed-toward-low-70s...

    Oil is set to go lower after gaining 28% in the third quarter, according to Citi's commodity analysts. Oil headed toward low $70s next year, says Citi [Video] Skip to main content

  8. Chronology of world oil market events - Wikipedia

    en.wikipedia.org/wiki/Chronology_of_world_oil...

    Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices. March: Damascus closes Iraq's 400,000 bbl/d (64,000 m 3 /d) trans-Syrian oil export pipeline to show support for Iran. March 11: U.S. boycotts Libyan crude. May 24:Iran recaptures Khorramshahr.

  9. Another '70's flashback: The meat crisis - AOL

    www.aol.com/news/2008-10-15-another-70s...

    With the return of inflation, insane gas prices, and Peter Brady, it's started to look like the 1970's revival is almost complete. However, as any cultural historian will attest, no reiteration of ...