The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis. The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $137 per barrel in 2025 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($79 to $29 in 2025 dollars).
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis. The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $137 per barrel in 2025 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($79 to $29 in 2025 dollars).
Source: Wikipedia "1980s oil glut" · CC BY-SA 4.0
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