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oct 1, 1973 - Organization of Petroleum Exporting Countries

Description:

The Organization of Petroleum Exporting Countries, or OPEC, decided to cut off oil exports to the United States, due to US support of Israel during the Yom Kippur War. This oil embargo raised gas prices nearly 200%, and created a shortage of oil in the US.

Added to timeline:

Date:

oct 1, 1973
Now
~ 52 years ago