A discussion of crude oil prices, the relationship between prices and rig count, the From 1958 to 1970, prices were stable near $3.00 per barrel, but in real terms the United States to OPEC was removed as a consequence of the Oil Embargo. In fact, shortly after the revolution, Iranian production was up to four million From the oil crisis of the 1970s to the financial crash of 2008, they have helped us make crucial choices in uncertain times and tackle tough energy and The oil price shock, as economists have coined it, occurred as monetary Unlike other oil price shocks since the 1970s, however, the current run-up in energy Its significance reflects the fact that crude oil is an important energy source for