The Oil Shock Glossary
16 specialist terms covering oil prices, energy crisis and geopolitics, explained precisely, in four languages, with real sources. No Wikipedia mash-up, no LLM filler.
Categories, click to expand
Pick a category and unfold its terms, or jump straight to the most-read terms below.
3 terms
Basics
What an oil-price shock actually is, how it is measured, and which waves shaped the term.
5 terms
Markets & Prices
Brent, spot vs. futures, crack-spread, contango, how the oil price is really formed.
4 terms
Geopolitics
OPEC, sanctions, strategic reserves, Hormuz, who turns the tap and why it reaches us.
1 term
Consumption
Heating oil, jet fuel, diesel, what we actually use the oil for.
3 terms
Economy
Pass-through, stagflation, petrodollar, how the shock travels through the economy.
Most-read terms
The core concepts no oil-price story works without these days.
Oil Shock
Sudden and large increase in the crude-oil price, with macroeconomic consequences.
Brent Crude
International benchmark grade used to price about two thirds of globally traded crude.
OPEC / OPEC+
Cartel of producer countries that affects the world oil price directly through output quotas.
Strait of Hormuz
Persian Gulf chokepoint through which around 20% of the world’s consumed oil is shipped.
Heating-Oil Price
Retail price for light heating oil, linked to Brent plus taxes plus logistics margin.
Peak Oil
The point of maximum global production rate, after which output structurally declines.