It should be the oil crisis in the 1970s and 1980s, and there was a price shock:

1970, the official price of Saudi crude oil is 1.8 USD/barrel;

1974 (the first oil crisis), the price of crude oil broke through 10 USD/barrel for the first time;

1979 (the second oil crisis), the price of crude oil exceeded $20/barrel for the first time;

1980, the price of crude oil exceeded $30/barrel for the first time;

198 1 At the beginning of the year, the international crude oil price reached $39/barrel;

Subsequently, international oil prices fell wave after wave;

1986, the international crude oil price once fell below 10 USD/barrel.