oil shock
noun
A sudden dramatic increase in the price of oil; a period of economic difficulty caused by such an increase; specifically either of two oil price rises imposed by the Organization of Petroleum Exporting Countries (OPEC) in 1973–4 and 1978–9.
Origin
1970s; earliest use found in The New York Times.
- high-nosed
- high note
- high-occupancy vehicle
- high-octane
- highpad
- high-paid
- high-pass
- high-paying
- high-performance
- high-pitch
- high-pitched
- high places
- high point
- high pole
- high polymer
- high post
- high-power
- high-powered
- high pressure
- high-price
- high-priced
- high priest
- high priestess
- high priesthood
- high priestly