The Entire History of the Oil Market in 21 Minutes

Описание: #FinancialHistory #EconomicHistory #OPEC

For 167 years, the price of oil has never been set by supply and demand alone. It has been decided by whichever company, cartel, or government held enough power to control it.

This is the entire history of the oil market, from the first well ever drilled in 1859 to the surplus-driven price wars of 2026. It covers John D. Rockefeller's Standard Oil monopoly, the secret Achnacarry Agreement that carved up the world's oil supply from a Scottish castle in 1928, the founding of OPEC in 1960, the 1973 oil shock that handed pricing power to producing nations, the American shale revolution that broke OPEC's dominance, the 2014 and 2020 price wars, and the fragmented, multipolar oil market of today.

Every era in this story ends the same way: a period of chaos, followed by someone gathering enough power to impose order, followed eventually by a new force breaking that order apart. Understanding that pattern is the only way to understand why oil prices move the way they do now.

If you found this deep dive into the hidden history of the oil market interesting, subscribe for more stories that go past the textbook version of economic history, into the parts most people never get told.

00:00 The Question Nobody Can Answer
00:27 Titusville, 1859: Birth of an Unruly Market
02:26 Rockefeller and the Standard Oil Monopoly
04:34 The Secret Cartel of Achnacarry Castle
07:39 OPEC Rises: Producers Fight Back
09:12 The 1973 Oil Shock
10:45 Shale Oil Breaks the Old Order
12:39 The 2014 Price War Against Shale
14:19 2020: The Day Oil Prices Went Negative
16:25 OPEC+ and the New Multipolar Market
18:59 Who Really Controls Oil Prices Today

#StandardOil #Rockefeller #OilPrices #History #OilMarket