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feb 1, 1973 - Oil Crisis

Description:

The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. ... The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy.

Added to timeline:

Date:

feb 1, 1973
Now
~ 52 years ago