Year

Event

Remarks

1970-1980

A slump of 10 years

1980-1990

A comeback to normal

1981-1987 dry cargo depression

1975

Fall in demand for oil for the 1st time in its history

1979

Oil price rise

From $11/b to $40/b

1979-1987

Tanker crisis

1979-1983

Oil trade fell from 1.4b barrels (1979) to 0.9b (1983)

Fall 64.5%

1979

Iraq revolution

2008-end to 2019

Global financial crisis

11 years

2020-2021

Pandemic COVID-19