1979 ⟶ Second Global Oil Crisis

The 1979 oil crisis becomes the second one since 1973.
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Year
1973
1979
2007

🛢️ 1973 Oil Embargo and Price Shock

October: 1973 oil crisis.⟶
1973 Oil Embargo and Price Shock (1973)
Oil CrisisEnergy CrisisOPECInflationGeopoliticsEconomic RecessionCold WarArab-Israeli Conflict
Saudi ArabiaSaudi ArabiaEgyptEgyptSyriaSyriaUnited StatesUnited StatesUnited KingdomUnited KingdomFranceFranceJapanJapanNetherlandsNetherlands

📉 Global Recession Begins

1973–1975 recession begins.⟶
Global Recession Begins (1973)
RecessionEconomic CrisisStagflationOil CrisisInflationOPECGlobal EconomyInternational Trade
United StatesUnited StatesUnited KingdomUnited KingdomGermanyGermanyJapanJapanCanadaCanadaFranceFranceItalyItaly

⛽ Second Global Oil Crisis

The 1979 oil crisis becomes the second one since 1973.⟶
Second Global Oil Crisis (1979)
Oil CrisisEnergy CrisisOPECInflationStagflationEconomic RecessionGlobal EconomySupply Chain
United StatesUnited StatesIranIranIraqIraqSaudi ArabiaSaudi ArabiaJapanJapanUnited KingdomUnited KingdomFranceFranceGermanyGermany

📉 Global Recession Triggered by Food Price Spike and Financial Crisis

Spike in food prices and subprime crisis help trigger global recession.⟶
Global Recession Triggered by Food Price Spike and Financial Crisis (2007)
RecessionFinancial CrisisGlobal EconomyEconomic DownturnGlobalizationMarket Volatility
United StatesUnited States