In the 1970s, OPEC raised prices from $3.01 to $5.12 per barrel in 1973, and then $11.65 in January 1974, and then lifted the Embargo on March 18, 1974. Oil prices gradually rose to $15 per barrel by 1978. Then the Iran-Iraq War significantly reduced oil supplies from each nation, which led to prices spiking in 1979 and 1980.
https://www.reddit.com/gallery/1t2w6tv
Posted by meifx