For about a century after the birth of the modern oil industry, the United States has been monopolizing the international oil market. After World War II, the oil production in the Middle East soared, and the world oil center gradually shifted from North America to the Middle East. During this period, the price of crude oil was low and stable. The crude oil price of 1945 is USD 65,438 +0.05 per barrel, and that of 1960 is USD 65,438 +0.90.
1In June, 1973, the fourth Middle East war broke out, and the oil-producing countries in the Middle East took measures such as reducing production, which made the oil price soar from about $3 per barrel to about 1 1 USD in less than three months, thus triggering the first oil crisis. This crisis led to the worst economic recession in the world after the war.
At the end of 1978, Iran's political upheaval caused its daily oil output to plummet from 5.8 million barrels to below/kloc-0.0 million barrels, breaking the fragile balance between supply and demand in the market, and the oil price soared from/kloc-0.3 to 34 dollars per barrel.
1980, Iraq went to war with Iran, and the oil price rose to $38 per barrel (according to the actual purchasing power, this price is equivalent to more than $0/00 per barrel at present), thus giving birth to the second oil crisis.
From 65438 to 0982, the Organization of Petroleum Exporting Countries (OPEC) began to implement the production quota system, striving to "limit production and protect prices". However, this practice has led to a price war among members of the Organization of Petroleum Exporting Countries for market share. 1986 In the second quarter, the oil price of 1986 once fell to $67 per barrel.
1In August, 990, the Gulf War broke out, during which the international oil price rose to 40 dollars per barrel.
197 When the Asian financial crisis broke out, the Organization of Petroleum Exporting Countries decided to increase production because of its misjudgment of the situation, which led to a sharp drop in oil prices. At the end of 1998, the international oil price fell below the $0/0 mark per barrel.
1In March 1999, the international oil price began to rise, and in March 2000 it rose to $34 per barrel. When the Iraq war broke out in 2003, oil prices rose further. After 2004, oil prices rose sharply. On June 2, 2008, the oil price climbed to a high of $0/00 per barrel.