From 65438 to 0973, the fourth Middle East War broke out, and Arab countries used oil weapons to impose an oil embargo on countries that supported Israel and cut oil production. As a result, oil prices soared and the first oil crisis broke out. 1978, the political situation in Iran changed, resulting in unstable oil production, which once dropped from more than 6 million barrels per day to 700,000 barrels. In this way, the second oil crisis also appeared.

The emergence of the oil crisis has greatly affected the economies of western countries, especially Japan. The first oil crisis immediately caused a serious depression in Japan's economy, leading to a large outflow of foreign exchange.