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US-Iran war still trails the 1979 oil shock by total losses

Summary by New Strait Times

The Iran war has created the largest oil supply shock ever in terms of daily production losses but the 1979 Iranian Revolution remains the biggest oil crisis by cumulative supply loss, according to Reuters calculations based on International Energy Agency, OPEC and U.S. Department of Energy data.

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New Strait Times

How does the Iran crisis compare with the 1979 oil shock?

The war has disrupted crude, natural gas, refined fuels and fertilizer supplies all at once.

4 days ago·New York, United States

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100% Center

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Reuters broke the news in New York, United States 4 days ago on Friday, July 3, 2026.

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