The Iranian Revolution occurred in 1979 and refers to the populist (specifically students, leftist groups, and Islamic organizations) mobilization and uprisings to overthrow Mohammad Reza Shah Pahlavi, the entire Pahlavi Dynasty, and the vested influences of the United States. Upon the Shah's exile, Iran adopted a theocratic-republican constitution and heralded Ayatollah Khomeini as the supreme leader of the new Islamic Republic.
Although there are many causes that precipitated this turn of events, it is important to note that Iran's economy was not diversified at all and hence highly dependent on oil revenues (90%). During the oil boom of the early 70s, inflation increased in Iran at an alarming rate, and austerity measures were put in place to counter the effects. However, while the Shah had become the personal beneficiary of the booming oil revenues, both the inflation and the austerity (as the supposed solution!) led to increasing unemployment and poverty amongst the working class. This increasing inequality, along with the critique of the Shah's relationship with the US (as well as the West and other secularizing influences more broadly), was the primary motivating force behind the political events of 1979.
This particularly salient role played by oil can also be attested to through examining the strikes. The first strike was held by workers in Tehran's main oil refinery, and was soon to be followed by refinery strikes in five other cities. As these localized strikes gained momentum, they inspired a nationwide general strike across various industries.