Infographic: Five Oil Shocks in Numbers
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Half a century of oil markets can be read in five prices. The 1973 embargo quadrupled the price and created the modern energy-security debate; 1986 showed what happens when the swing producer stops swinging; 2008 set a record that still stands; April 2020 produced the first negative settlement in history; and 2022 reminded Europe that the barrel and the pipeline are also instruments of war.
The numbers are as published by the US Energy Information Administration and the exchanges. Prices are nominal, in dollars per barrel.
Sources: EIA, exchange data
