What was the trend in oil consumption from 1970 through 1973?

Answer 1

From 1970 through 1973, global oil consumption experienced a significant upward trend, driven by economic growth, increased transportation needs, and rising industrial activity. This period saw a surge in demand, particularly in developed countries, as they relied heavily on oil for energy. However, this rising consumption would soon be impacted by the 1973 oil crisis, which highlighted the vulnerabilities of dependence on oil and led to changes in energy policies.