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oct 19, 1973 - OPEC Oil Embargo

Description:

The Organization of Petroleum Exporting Countries decided to stop exporting oil to the US. This was a form of retaliation because the US re-supplied Israel's military. Over six months, oil prices quadrupled and stayed high, even after the embargo ended.

Added to timeline:

8 months ago
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114
Contemporary History

Date:

oct 19, 1973
Now
~ 44 years ago

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