30-April-2026
Economy News
 
Oil shock will hit Asia harder than the 1970s
30-Apr-2026

The dizzying changes wrought by energy shocks are only ever seen in the rearview mirror. When the 1973 and 1979 oil crises first swept the world, analysts assumed the future would be business as usual. Crude demand from Western Europe would remain broadly stable throughout the 1980s, according to a declassified 1982 analysis for the Central Intelligence Agency.

News Source:- https://economictimes.indiatimes.com/industry/energy/oil-gas/oil-shock-will-hit-asia-harder-than-the-1970s/articleshow/130621469.cms
 
 
 

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