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Updated:Apr 23, 2026
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Iranian Revolution and the Second Oil Shock (1978–1981)

Iranian Revolution and the Second Oil Shock (1978–1981)

  1. Iranian oil strikes cut exports sharply

    Labels: Iran oil, Strikes
  2. OPEC schedules 1979 price increases

    Labels: OPEC, December 1978
  3. Iranian output collapse hits global gasoline supplies

    Labels: Iran oil, United States
  4. Shah leaves Iran amid revolutionary crisis

    Labels: Shah of, Iranian revolution
  5. Khomeini returns, reshaping Iran’s oil governance

    Labels: Ayatollah Khomeini, Iranian oil
  6. OPEC accelerates benchmark price increases

    Labels: OPEC, Benchmark price
  7. OPEC adopts two-tier prices at Geneva meeting

    Labels: OPEC Geneva, Two-tier pricing
  8. Carter links energy shortages to national policy shift

    Labels: Jimmy Carter, U S
  9. U.S. embassy seizure deepens Iran’s isolation

    Labels: U S, Hostage crisis
  10. OPEC price unity strains as increases debated

    Labels: OPEC ministers, Price debate
  11. Iran–Iraq War begins, cutting regional output

    Labels: Iran Iraq, Regional oil
  12. U.S. moves to decontrol oil prices and allocations

    Labels: Ronald Reagan, Oil decontrol